An increased fov should increase the fov from the same point, not from a more distant point. Otherwise it is just a zoom.
This is indeed an increased FOV, but it doesn't result in the right aspect ratio. The idea is to increase the FOV without moving max further from the screen, thus giving the same perspective but with more environment showing on the sides.
I'm not really an expert on FOV, but I can see that something's wrong here, even with a wider FOV. The way I see it, FOV should only modify the horizontal FOV, not the vertical FOV. That way it will compensate for aspect ratio. When the FOV is changed in both directions, it's just a zoom, resulting in a bigger view, but the same, wrong aspect ratio.
-Dan
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