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Another reason is that most hosting providers use WHMCS as their billing system. When you configure WHMCS for the first time, it offers you to use cPanel by default, saying that you can choose other options later. These additional configurations take time and resources, so most providers end up using cPanel because it's much easier to use an already configured integration than make a new one.
Now, things have changed, and WHMCS no longer offers cPanel by default, but it did for many years before that, so the panel is still popular among old users. Old users pass on their experience to new ones, so the legacy of cPanel is still alive.
I switched to DirectAdmin back in 2018 when cPanel introduced its new prices. No regrets, f*k cPanel. I love DA
Now, things have changed, and WHMCS no longer offers cPanel by default, but it did for many years before that, so the panel is still popular among old users. Old users pass on their experience to new ones, so the legacy of cPanel is still alive.
I switched to DirectAdmin back in 2018 when cPanel introduced its new prices. No regrets, f*k cPanel. I love DA