It is situationally dependent. Coming out of a cave in a spring after a long deco dive, I will come up horizontally and take maybe 5 minutes to come up from 20' as the priority is cleaner off gassing as there are no threats on ascents (well..maybe gators).
Coming up in a fresh water lake, I will go from horizontal to vertical at about 10 ft and then rotate/look around/look up on the way up to avoid boat traffic as they are the primary threat on ascent.
In the ocean, I'll switch from horizontal to vertical at 20' (10' stops make no sense in 5 or 6 ft swells) and then watch the boat to ensure that I don't end up ascending under the props or rudders pitching up and down in 6 ft seas. Again the primary threat above 20' is the boat on the surface. And I agree that you can rotate and maintain better overall situational awareness when vertical and that makes more sense than staying horizontal.
The US Navy specified vertical with the stop depth at chest level, but then they also accommodated helmet divers who had to stay vertical.
It is true that a horizontal position adds more drag, but at the technical level your buoyancy better be spot on anyway, horizontal or vertical.
But...horizontal looks cool and and seems to be the primary issue with many divers who otherwise can't explain why they do it.