the aperture should best be round for all shapes of lenses
There are cases of cameras which matte off a rectangle in front of the lens. Mainly to avoid flare resulting from unneeded glass surface i think.
But the lens behind is round again, why? because it is just way easier to produce a rotational symmetric glass object than a random shape with high precision. Rectangular lenses as used for those wearing glasses, are produced round and then cut after they got their curvature.
1. so it is always round first, rectangular cut afterwards -> higher cost
2. but then, if you had a round lens, no element would be allowed to rotate, not even the internal ones -> new lens designs and cumbersome mechanisms for zooming and focusing -> higher cost. potentially also higher weight.
3. then think of the lens barrel, rectangular? again much more cumbersome to produce. -> higher cost. also, a cylinder is much tougher to withstand mechanical forces, so you lose something here.
4. what would the gain be? the lens would not be that much smaller. It would probably not be lighter. But it would be more prone to asymmetrical stress/strain due to mechanical forces and heat expansion. It would be probably a pain to adjust. So image quality might suffer and the lens would be twice as expensive.
Now you decide, if this lens would be on your shopping list
