Well as apparently as the unofficial āother user of this widgetā
(I do use it for two different projects, a mobile rover and a Pan & Tilt for my PiCam) I should cast my vote⦠however I have no strong feelings either way.
EDIT - OK, I re-read my post and I guess I do side on the āleave it as isā side after all
)
I can see both sides⦠Yes, it ājust worksā well enough as is 
But in order to use the corners with full X/Y values, it would need to be a āsquareā.
As is, one can extrapolate it out with math⦠but I belive it would also require a reduction in resolution to account for the truncated values in the current ācornersā.
E.g. With a setting of -255 to 255 (leaving 0 as center) one can see how the round ācornersā prevent reaching full 255 values for both axis⦠thus the device side math will have a reduced values to work with for extrapolation and more processing required for said math anyhow.

However⦠I feel that for most real IoT purposes, true corners and/or extrapolated resolution loss would be completely negligible, particularly for basic directional controls. I have found that anything requiring such motion precision probably shouldnāt be using a virtual interface anyhow as there is no tactile feedback required for such human interface precision.
I personally would prefer to see Blynk resources going to much more practical uses like a 4x20 LCD (OK, kidding⦠sorta
)⦠actually more like graphical customisation of buttons, sliders, gauges with user supplied imagery to complement the built in options. Including a true image viewing widget - pulling data from the device/server as needed. And so on. But that is for another topic 
PS, I havenāt bothered to sit down and measure it⦠but suspect that aside from the very fancy optically driven ones⦠even physical joysticks based on potentiometers will run into a small degree of āroundā corners⦠these are analog devices based on physical limitations of rotation⦠not square touch pads 
Also, I suspect that most precision controls never expect to be driven to the stops in any axis.