Am I the only person who doesn't understand what to do with squared video in 2017?

Huge set of release notes in Version 2.0: Redesigned interface • Easily navigate through filters, labels, stickers, and emoji in the new Effects browser • Photo button appears on main capture screen, so you can quickly take a picture at any time • Tap any filter to see how it looks on your videos and photos before applying it • Full-screen browsers let you see more of your photo library and posters • Labeled buttons make it simple to edit Live Titles, add or change filters, trim, mute, and delete • Updated for Super Retina display on iPhone X Selfie Scenes on iPhone X • Uses the TrueDepth camera on iPhone X to remove your background and place you in animated, 360-degree scenes • Choose from a dozen scenes including sprawling landscapes, abstract art, and outer space • Transport yourself aboard the Millennium Falcon or Mega-Destroyer from Star Wars: The Last Jedi • Each scene includes a matching selfie filter that transforms your appearance to make you part of the scene New stickers and posters • Add Star Wars characters to your videos with stickers featuring Darth Vader, R2-D2, and more • Create fun titles with 20 new animated posters, including more than a dozen featuring Star Wars and Mickey and Friends • Choose from 16 vibrant and retro Apple-designed stickers New effects and filters • Choose from four new artistic effects — Watercolor, Charcoal, Sienna, and Indigo — that use advanced style transfer technology to transform images in real time as you record* • Add warmth, impact, or drama to videos and photos with a selection of new filters from the Camera app • Use effects and filters while recording, or apply them to photos and videos from your library iCloud support • Use iCloud to view and edit all your Clips videos on any of your iOS devices • Start a video on your iPhone and finish it on your iPad • Support for Shared iPad in classrooms Additional Features • Take a photo; apply stickers, filters, and emoji; then share your picture without having to create a video • Record Live Titles in dozens of different languages without changing the language of your device • Slide up on the Record button for hands-free continuous recording • Copy and paste existing clips to reuse them within a video • Browse and pick from the full set of emoji in the new Effects browser • Drag and drop stickers, labels, and emoji from the Effects browser to quickly position them on your photos and videos • Posters are now grouped into categories for easier browsing • Choose from 21 new royalty-free soundtracks from indie artists such as DIIV, Elohim, Cherry Glazerr, and Mark Mothersbaugh • Use 3D Touch on Clips app icon to quickly create a new video from Home screen on iPhone *iPhone 7 or later or 2017 iPad Pro required for some filters

Does this still only produce videos in a square format?

BIG UPVOTE. What an improvement!

Whoo hoo 🙌