Like Orrum, I also remember the days (doesn't seem that long ago, though it has been a few decades) when low-dome was the standard. Some of the rarer stuff was only cut thin, but that wasn't only to squeeze an extra slab out of spendy rough: jewelers preferred thinner because lightweight is easier to wear, there is less waste on smaller size cabs, and the glow that can happen in material with only a hint of translucency is lost in a high dome.
For some transparent/translucent stones like moss, plume or tube agates, thin tablet and low-domes can also make the pattern pop.
During the late 1980s and early 1990s, a fashion for chunky and primitive/medieval designs from some of the high-end jewelers made use of thicker cabs and deep, native-cut faceted stones. Now thin rose-cuts and similar are back in fashion (I've even seen tablet-cut diamonds lately). So, there is cyclical fashion, wearability and what sort of jewel will be the final use for the stone.
Love the swirled pattern in your piece. It really suits the cabochon shape you chose!