Hi,
the main reason for cubic is the rendering quality and performance and some device limitations,
drawing flat 3d surfaces (cube) is faster and more accurate then trying to draw a curved 3d surface (sphere) in the most cases,
additionally some devices like iOS don't have any possiblites to draw a curved 3d surface with an acceptable performance and quality,
so that's just the display/presentation side - a pano image will be typically not produced in cubic format, the conversion to cubic will be done later (e.g. by the krpano tools, when using the droplets automatically),
best regards,
Klaus