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Because web content is increasingly mobile and vertical-oriented. So the horizontal space is usually empty anyway.
Sometimes new things take time to get used to but if you try it for more than a single day you may find that you like it.
Makes sense. The sites I am using most probably have not adopted the new style yet. And like I said, the hardest part is the muscle memory of looking at the top for my tabs and moving my mouse to the top to select a tab.