Physics. A horizontal chassis, in the context of monster trucks especially, would roll less as the center of gravity is displaced horizontally more than vertically. With a narrow vertical chassis design a truck will roll and turn. Specifically, the Traxxas and HPI trucks, will handle differently based on their chassis design if all else were equal. The HPI (again if all else were equal) would out perform the Traxxas in situations that a monster truck would be designed to do.
Let me put it like this... if you were jumping, bashing, and using a monster truck in the typical ways most would, a vertical chassis design is best in performance. It is why the full scale trucks are designed in the same way. Still don't believe me?
Imagine putting suspension on four corners of a 2x12 and then the same suspension on a 2x4 orientated vertically. Using the later, landing impact is displaced through the suspension as suspension is meant to do. When cornering the suspension takes the force, again, as suspension is meant to do. So, all things being equal, it is my opinion based on what I understand in physics (and admittedly that is limited), the vertical chassis out performs the horizontal design.
Now, if we are talking about wrenching and upgrading... I admit that having a platform is more ideal. I'd rather, however, buy a chassis for how it responds than what I can add to it. That isn't to say one is ultimately better than the other based on chassis alone.