Putting swaybar at the top behind the notch is a great idea!
You know what OS doesn’t handle the notch? OSX. It happily throws the system tray icons right back there, with an obscure work around to bring them back. Software quality at Apple these days…
A new Wayland protocol is in the works that should support screen cutout information out of the box: https://phosh.mobi/posts/xdg-cutouts/ Hopefully this will be extended to include color information whenever applicable, so that "hiding" the screen cutout (by coloring the surrounding area deep black) can also be a standard feature and maybe even be active by default.