Actually, it makes more sense to hold it that way than any other way, because of how the straps are.That's a good retcon:
https://en.wikipedia.org/wiki/Accelerometer
"Accelerometers are used in tablet computers and digital cameras so that images on screens are always displayed upright."
It accounts for Scotty, Chekov, and Palamas holding their tricorders funny in "Who Mourns..."
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With accelerometers, you can hold it any way you want.
Whether it should be mounted in a different way on straps is a different issue, of course. But, yeah, nowadays we expect our phones to know how they're oriented and readjust their interactive displays accordingly. On the other hand, the tricorder had a few physical controls....