Keystone — the series
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A projector is a camera run backwards
Turn a projector fifteen degrees from square and it throws a trapezium; keystone correction cannot add light outside it, so it shrinks the picture until it fits and discards a sixth of the panel. And the instrument itself comes back out of the picture it threw — 2880 panel pixels recovered against 2880, by the function the wrong field wrote for hand-drawn cubes.
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A projector in the viewer's eye
A projector paints a wall along its own rays, so from the projector's own position the wall's shape is invisible — exactly, on a cylinder, on a dome and on a plane alike. Move a hand's breadth away and the residual is pixels. The one place a projector can stand and ignore the shape of what it is throwing onto is the eye of the person watching.
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Straightening does not move the eye
Correct a photograph's converging verticals and what comes out agrees with a level camera at the same point — one the correction was never shown — to 3e-13 px, with the verticals parallel to 0e+0°. The cross-ratio of four points along a ground line reads 1.3333 before and after, so the corrected picture measures exactly what the original measured, from exactly where the original was taken and nowhere else.
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Keystone correction spends the panel unevenly
Turn a projector fifteen degrees and keystone correction throws away 18 per cent of its panel — the number a specification quotes. It is the smaller half of the price. What remains is spread unevenly: the near edge of the corrected picture gets a panel pixel for every source pixel, the far edge three-quarters of one, so the far edge carries 58 per cent of the source's detail. A tipped projector keeps more than a turned one, and a lens shift that places the same picture loses nothing at all.
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An even spend of the panel is an uneven picture
A keystone correction that spends the panel evenly exists: render the picture straight into the panel pixels that reach the corrected rectangle, one sample each. At fifteen degrees that is 82.2 per cent of a frame's samples, and on the wall it delivers exactly what a full frame does — 0.99 of the source's detail at the near edge, 0.76 at the far — because the panel, not the source, was setting the detail everywhere. It removes no unevenness. On fewer samples it makes the picture worse where it was worst; the even picture is a uniform source of 57.6 per cent of a frame.