Obviously the latch is for adjusting the length of the stock. If I understand your question right, you're not asking about the latch, but rather the over-all shape of the butt. The only reason for the "triangular" shape of the plastic butt, is to add rigidity to the butt pad. It's a simple but efective design thats been around since the first CAR-15 stock in the late 60s. It's not necessary that it be triangular, only that it adds support, and that's why we're now seeing carbine stocks with very different designs, such as the VLTOR modstocks/clubfoot, and the new Magpul stocks.
Hopefully that answers your question.
Tim