First time I had heard this:
a pressurized cylindrical container pushes outward with equal force in all directions. This is crucial for pressurized beverages.
My favorite bottle redesign (http://www.minimallyminimal.com/blog/2010/3/15/ecocoke.html) was done on Coca-Cola and had a similar "sqround" shaped bottle, but I don't think he considered the pressure in the bottle.