Apple - How is the top cutout handled in iPhone X screenshots?

The simulator behaves differently to an actual device. Screenshots from a real device do not have a cutout, nor rounded corners.

Screenshots taken on iPhone X ignore the existence of the notch

Guilherme Rambo on Twitter https://twitter.com/_inside/status/907743049220018176

This is what I get when I take a screenshot from iPhone X simulator. Most probably this will be the result in real devices too:

EDIT: The below screenshot was taken from iOS 11.3 simulator with Xcode 9.3. The cutout is not visible and it resembles screenshot from a real device.