While seeing a picture of
dddd '62 Schwinn Continental provides proof that this bend style was at one time used on "real" bikes, by the time the bikes shown in the original post were manufactured, all bike store bikes had bend like DDDD's Varsity. In other words more curvy and enabled placing the hands on the brake hoods and not such a deep drop.
I am jumping to a conclusion that the handlebars in the original post were made that way was based on cost. Unless it was on a far older bike, like from the 1950's and older, this bend just looks doesn't look right.
If you come across a old bike that is missing it's handlebars, perhaps this style bar might look good on it.