You're half right. More vertical space is great, but the ratio doesn't matter. For the work you are talking about what matters is the height.
There's a funky Dell out now that has an even wider aspect ratio, it's around 2.33:1 I believe. Now I'd like that, if it had more pixels. It's 2560x1080. That's a detriment. But imagine if that was more along the lines 3350x1440. Would you still complain that was too wide? You could have three documents, web pages, whatever up, side by side, and still have a lot of vertical space.
Overall resolution and pixel density are what's important. Far more so than ratio. Hell, if height is the only thing that matters to you then get the biggest monitor you can afford and turn it on its side.
Frankly I want both, height and width. But if the cost for a wee bit more height is substantial, well as long as I have enough vertical resolution I'm not going to get too caught up on the ratio. 1440 is great for me. Would I like 1600? Sure. Would I rather spend that $300+ on something else? You bet.