It's a way to sell more tubes, IMO. And it seems to be working. Think of it as another option as compared to a 6550 or KT88, rather than a whole new tube type with no tube rolling options. But caveat, the heater current is higher in a KT120, so it may not be a direct swap. Depends if the amp in question can handle the extra heater current demand from the KT120s
Concerning the sound, the KT120s might be the best sounding tube in that class on the market today. (Excluding the ultra expensive stuff which I have not tried). Gut punching bass, slightly rolled off highs, and a neutral midrange. The tube just sounds good from top to bottom. For a hifi amp, they are really quite excellent.
Electrically, the KT120s are not quite as linear as 6550s. But in a feedback push pull amp, that is hardly an issue with a decent amount of feedback. I measured performance of KT120's vs. Winged C 6550Cs in my CJ Premier 11 amp, and the two tube types performed quite closely. Same output power, but the Winged C's produced a bit less distortion at midband.
So what's not to like? Another tube rolling option for many of the 6550/KT88 amps that can dish out the extra filament current.
I have not tried the KT150's, so no comment there.