From a development point of view, the issue isnt just subdivision - it's about setbacks. When you build on a corner block, you get to nominate which street is your primary, and which your secondary street. In the NT (just to give an example) you must set your building back 7.5m from the front boundary, but only 1.5m from your secondary street boundary.
In the case of a rectangular shaped block, this is highly advantageous because you nominate the shortest side for the front boundary, which means that you waste as little space as possible for your front boundary setback, and therefore maximise land use.
Plus you can do some funky design stuff and have the entry on one street, and exit on the other street, which then removes the need for massively wide driveways/crappy parking layouts