We don't have the tunnel vision the average photographic camera has accustomed us with.
Our set of eyes/brain is not working as the "normal" 50mm SLR camera lens is.
We live immersed in a sensation of a wider space, thanks to the simultaneous use of two eyes and lateral vision.
But the panoramic camera may render the scene in front of it in a more realistic way, giving a better sensation of space, of being immersed into it with an angle of 120°.
... beautiful.
Landscape photography is what the panorama camera is made for, after all: deformation is reduced to a bare minimum, perspective is greatly enhanced by the use of the rotating wide-angle lens.
There is sometimes an unavoidable distortion, but not necessarily unpleasant, it's part of our way of seeing, and anyway the brain corrects it, in the end.
Low light situation, narrow places, need of a lot of depth of field, and the sensation of "being there": all photographs here are taken without the use of a tripod and in natural light.
A portrait with a panorama camera is a way of establishing a strong relationship with the person, and keeping the environment in focus (thanks to an extra lens) with a very "in deep" vision.
You can do reportage shooting with the panorama camera in tight spaces + low light conditions.
But those were the times of cameras and film, nowadays with a cell phone you can do this and much more ...