Also makes it easier to maintain the orientation of the head. Gloves on smooth surfaces have a much easier time of slipping.
I guess it might make it easier to roll the torch head between your fingers without choking up (or down), but I for one would prefer transverse ribs. The thing is though that I always end up using a cover on my cable, and that gets tied on over the hard plastic tube in question, so I for one couldn't say I've ever noticed feeling those ribs on my torches when I used Weldcraft, or noticing their absence after I switched to CK.
I do think that since the tops of the ribs are glossy, they'd offer less friction to a gloved hand than the knurls or textures found on the competition's products, but that only comes into play when they're exposed.