You aren't making any sense to me. You can't zoom a 2.35 to 16:9 without cutting off the sides, its simply impossible. If you don't cut off the sides you'd have to squash the picture from the sides.
Bluray was made for 16:9 from the start, it would never be coded for 4:3 hard coded bars wide screen, that simply doesn't make any sense. Dvd only had to do that because it came out before wide screen tv's were common. Don't apply dvd information to bluray. The only reason to have animorphic bluray would be if we had 2.35 flat panels with beyond hd resolution we had to take advantage of, and we don't. Why beyond hd resolution you ask? Because for everything else not 2.35 you'd lose resolution on such a screen.