Rectangular boxes are relatively easy to construct, relatively efficient in terms of enclosed volume, and relatively easy to live with. If you place a rectangular box on a flat surface, it won't fall over or roll away, for example! In a hi-fi application, the 'domestic manager' can place a flower vase and a photo-frame on the top to make it look less industrial, and in a studio we often place all manner of technical studio debris on top! This might be very convenient, but is not necessarily the best way of building a loudspeaker cabinet.
The acoustic effects of different shapes of loudspeaker cabinets have been known about empirically since at least the early 1940s, but it was really the academic work of HF Olson that properly documented what was going on, in a paper he published in the Journal of the AES in 1969. This work revealed very clearly that cubic and rectangular cabinets had a very damaging effect on the overall frequency response, whereas cabinets with rounded or deeply angled front-baffle edges performed considerably better. A spherical cabinet delivered an almost perfect frequency response. (The 'Cabinet shape and frequency response' diagram shows the frequency responses of various different cabinet shapes.)
The physics of the situation is essentially that the sound wave generated by a loudspeaker driver radiates outwards in a hemispherical wave, travelling sideways across the baffle surface and out into the room. However, when the sound waves reach the baffle edge of a cuboid cabinet, they encounter a pressure discontinuity. There is nothing for the sound waves to press against any more, and that step change causes severe diffraction. In effect, the sharp cabinet edge forms a secondary source of sound-wave radiation, and sound waves from that 'virtual' source interfere with those from the loudspeaker driver itself, resulting in comb filtering, directional beaming and an uneven response. The precise frequencies affected and the strength of the interference effects depend on the relative distances between the driver and the various baffle edges.
Not surprisingly, Olson's work revealed that chamfering or rounding the front baffle edges helps to reduce these interference effects by softening the transition and severity of the pressure discontinuity at the cabinet edge — and that's why most modern loudspeaker cabinets have rounded edges to varying degrees. But the best performance was obtained with a spherical cabinet, since there are obviously absolutely no hard edges, and thus no step-change discontinuities.
However, a spherical cabinet presents other practical problems, not least being how to stop the speaker from rolling off the console meter-bridge! On a more serious note, a sphere has only one dimension and thus has a very strong resonant frequency. A better compromise, combining the soft baffle edges of a sphere but with a broad spread of internal resonant frequencies, is the ovoid or egg shape. And that's where SE's new monitors enter the picture.