I do a lot of manufacturing adjacent and overlapping work. The primary justification for cans (by a long shot) is going to be process steps and cycle time. Very roughly counting manufacturing operations, while surely overlooking tons of other handling and preparation common to either method:

A double capped can has 7 specific manufacturing tasks: 3 cutting steps (2 ends, 1 center), 1 roll forming step, 1 weld step to close the cylinder, and 2 end capping steps. Forming ribs into the cylinder and can should happen simultaneously when the cylinder is roll formed and when the ends are punched from sheet stock.

A single capped can has 4 specific manufacturing tasks: 2 cutting steps (1 blank for the can, 1 lid), 1 draw form step, and capping the end. Trimming the edges of the draw formed can should be combined with the forming operation.

Draw forming tools are expensive, the world is still full of cheap, perfectly functional, secondhand canning equipment. Either way, cans sell for cheap and at low margins. Takes a lot of volume to make ROI. Or... Aluminum! Aluminum is far more expensive than steel and is finicky to weld reliably. Draw forming soda cans eliminates any need for welding and allows manufacturing of thinner can walls, which reduces material consumption, and the bottom can be shaped to hold pressure with less material.