My view is the following, the sequence is important:
1. When the subjects lends itself to a panoramic crop. This is the main entry criteria,
2. Among those cases, when you want the best possible image quality for large prints and files that will withstand time a bit better,
3. When there is no major reason not to do it. This means when the time scale of movement in the scene isn't incompatible with your ability to capture multiple frames of the various sub-sets of the scene quickly enough at the chosen aperture speed. If you are using a ND filter to blur water motion for example, there is typically zero issues with pano work. Moving clouds are never an issue if you use the right gear and are fast enough.
Overall, my view is that 80+% of successful landscape images are great candidates for panoramic stitching.
Cheers,
Bernard