Different camera models are interesting field of research. For example NASA uses CAHVORE model for scientific cameras to correct for all sorts of distortions, and I think OpenCV has also it's own models. And now we have this novel model of lens blurs that can be added to the mix.

This is all very relevant if you want to do e.g. 3d reconstruction or view synthesis from some images, I imagine you can do much better the better knowledge you have of the camera.