The advantage of some of the thinner squarish shapes is less weight and better lock in for grinds. The original idea for beveled wheels (originally called "conical" in the '70s) was to help roll over the thick coping on pools and skateparks of that era. Modern shapes, for some reason, still base their design on old wheels that were 65-70mm tall.
Those Westgate Rictas are some of the nicest wheel shapes I've seen. If you're not rolling over big coping, most of that extra urethane outside the riding surface is dead weight.