Just because it's the default doesn't mean it's suitable for reading and it was never thought of being that.
Then there's the separate issue of overlong paragraphs, which is simply a sign of poor writing (again making the text less accessible), unless you're trying to argue that the use of fewer <p> tags makes the page faster to load and render?
Now, I do wish that browsers had saner default styles, so one wouldn't need even that single line of CSS, but that's not the world we live in, and for whatever backwards-compatibility reason we're stuck with how things were in 1995.
I don’t understand though. Times new Roman and clones of it are very readable fonts. It just doesn’t look like short form marketing material.
I have this 16:9 screen. I'd like to use all of it, thanks.
(I'd suggest more than 50 but not a whole lot more, not nearly enough to fill a normal size screen.)