I was going to say the same thing and even offer some data to back up what I said (something he fails to do every time he posts).
Here's some data for you: Xbox 360 development requires you to use a 16:9 720p framebuffer (or a 1080p framebuffer, but few do that). All 360 development is inherently widescreen.
Opening up the 4:3 version rather than cropping off the sides of the widescreen version is a fine thing to do. Yes, it's perfectly acceptable. All of you are looking at it from the point of view of 4:3 going to 16:9, but that's most likely not how it's been developed. Look at it as the 16:9 version that's been modified for the 4:3 version. And really, who cares how they modify the 4:3 version? If they want to open up the top and bottoms, like is done with Super35 filming in movies, then fine. Has no bearing on the widescreen version. It's not "widescreen done wrong", or "screwing over the widescreen community".
Yes, they could have used a wider FOV for the widescreen version. The one that they're using might be on the narrow side, and it might contribute to motion sickness. That's an entirely valid concern, though if the FOV was deliberately chosen, I'd honestly rather play it as the designers intended.