Good question. I don’t know, perhaps wide screens are cheaper to produce since those are more common nowadays?
Games can be stretched to fit the screen, though. I’m sure there are some sickos out there who actually make use of that option 
The modern games on it will, like Cathedral mentioned above.
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Taito and Capcom vertical handhelds by “Hyper Mega Tech”… with an Evercade slot on the back!
Here are the amazon listings -
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I’m interested how these games will be displayed on the 320x240p display.
Bubble Bobble seems to be centred which makes sense, though I wonder about the pixel ratio of the original.
Street Fighter 2 would need to be downscaled to fit.
Most games seem to be arcade releases. Only one in each isn’t.
Also of interest:
Hmm yeah I like the form factor and price, but yes resolution could be an issue.