If you use a very short focal-length you get the optical analog of a “fish-eye lens.” But this distortion is evenly circular. (Per contra, a long focal-length produces a “zoom lens,” and Blender’s default setting is a “normal” lens.)
I predict that the “panoramic” option that you’ve stumbled-upon is what you are looking for, since it would mimic the effect of a "CinemaScope®-"type lens which is used with wide theater screens. (Back in the days when they didn’t cram thirty tiny theaters into one building, so cinema screens were “wide” …)
This so-called anamorphic lens bent the light sharply, but only in the horizontal axis, as you see here. (The “weirdly distorted” image on the film, having been filmed through such a lens, would look correct when projected back through such another such lens.) A patent on that little piece-of-glass would have made you a tidy sum of money, back in the day …
I don’t see the “weird lines” that you speak of in the image that you posted. And, if I don’t see 'em, perhaps nobody else will, either.