I'm not making any points about printing paper, I'm suggesting that image ratios don't amount to much if they get cropped anyway or if you're printing you select 'image to fit paper size' in whatever software you happen to use. Oh and not all pictures submitted to news desks are by professionals, there are citizen journalists who photographed the July bombings with simple camera phones remember?
Ratios, image quality all take second place to context and composition.
I also know and I saw (along with my 500 million friends :)) some Olympus cameras at the Olympics from Professional photographers (citing one example). The E3 is one hell of a professional camera. Everything isn't Canon and Nikon you know. If you go higher up into digital medium format territory, you'll find 6x4.5 and 6x6 sensors being used which don't conform to your hallowed 3:2 aspect ratio.
Just accept that Olympus is doing fine without you or your 500 million friends with their 4:3 ratio okay? I can't say I care too much about ratios since I shoot using both of them along with 6x6.