To my understanding the tapered and button cap heads were introduced early on when strong gym climbers were trying to find comparable small holds indoors to the real world. The traditional cap or square head protruded too far out from the hold when it was only the size of a foot jib. So they found another means to lessen the protrusion.
Additionally it is well documented that the conical force exerted throughout an object via the tapered head disperses the compression force significantly than its counter part the cap head.
Its not economical to make a 'large' tapered head bolt as the head diameter would be increasing in size as the hexagonal dimension increases, and then you'd be back to the same problem of having a large bolt trying to fit in a small space.
Honestly I dont like using tapered bolts, cause if you need the bolt not to protrude, you can always use a button cap head and generally its on a small hold anyways, so yes you need a different wrench, but then at least you didnt have to spend extra cash on the hold you bought just because the shaper or hold maker had to manufacture it differently.