Mechanical Engineering Question:

More likely because it is easier to manufacture, much easier to put threads on, you do not have to worry about orientation when you put them together, and they have no weak spots created by corners.
My gutter pipes are rectangular because they do not stick out as far from the house as a circular one with the same area. However, they are low enough in the pressure they contain that they can be formed from sheet metal with a crimped seam. Making a water supply pipe, that way would be impossible.

In addition, it is easy to keep them aligned to the house. Running a rectangular water main under a street would be a major pain.