Hi @PJ, the honest truth is there is no good reason not to use ORC format. You can use another format like Parquet but it won't provide ACID, LLAP cache, or the same level of performance. I would say the decision is similar to not using indexes in a relational system or not running statistics. ORC is simply best practice for high performance data warehousing in Hive.
Keep in mind that LLAP will allow you to cache raw text files. This may be an option if you have some strict SLA preventing you from incurring the conversion delay of the text file to ORC.