There are three (or more) different definitions when it comes to panoramic photography.
1. Panoramic format (1:2, ,1:3, and longer), usually made using special lenses or stitching. Vertical panoramas fall also in this group.
2. Panoramic Viewpoint - made with rotational cameras or stitching from multiple images made on a rotating platform. The rotations of the discreet or contiguous segments (in the film cameras) especially when shot with a wide lens provides a special viewpoint which can't be accomplished simply by a single exposure cameras. Or even less so by cropping a regular image to an elongated format.
3. Mosaic type of photography using multiple exposures and a long lens, while adjusting horizontal and vertical angles, but formatted to a conventional image shape. i.e 2:3 (40"x60"). This type of photograph can increase substantially the final resolution and sharpness, but it should never be called panoramic.