Stitching may or may not be more usable but it does not increase quality
By that argument neither does dewarping, it only makes a stream more 'usable' to our non-panoramic brains. But the image 'quality' is inherent in the original. Also panoramic stitching has a modest amount of dewarping to eliminate pin-cushion distortion at the "stitch".
Anyway, let me put it this way, if somebody asked you which of two panoramic cameras to buy, with all the specs being the same except one had 4 imagers with a stitched view and the other 1 imager with a dewarped view, would you have a preference?