Part of my job involves reviewing IP licenses. We don't negotiate technical details like aspect ratios. (Some IP owners do, like Disney.)
The decision to mutilate Friends was made by a software engineer (working for the Licensee) who couldn't be bothered to add black bars or convert ratios because "reasons."
Showing the original film means showing things the director thought would be out of frame.
In the 90s, film directors would often consider both the cinema and TV ratios, but TV directors? I kind of doubt it; changing the framing might be interesting, but it's not a good way to show it, IHMO. Debates over overscan are fine, but if it wasn't part of the original broadcast, and wasn't part of the directors' intent to be shown, it shouldn't be part of any distribution.
The decision to mutilate Friends was made by a software engineer (working for the Licensee) who couldn't be bothered to add black bars or convert ratios because "reasons."