https://doc.rust-lang.org/nomicon/subtyping.html#variance
https://github.com/rust-lang/rust/issues/15699
And an RFC by some people that felt frustrated by this arguably implementation-centric view that kind of lost steam:
https://github.com/rust-lang/rfcs/issues/391
Intuitively, the bottom lifetime should the one that is uninhabited, which would be a lifetime with no extent rather than 'static.
https://doc.rust-lang.org/nomicon/subtyping.html#variance