For some engineers, peak meters are of little to no use on channels. When using a console, they tend to look at calibrated VUs and would like to do the same in Cubase. These users would like the ability in Cubase to switch any audio meter between peak reading and VU, or to display multiple meters in thinner lines, similar to Pro Tools’ implementation.
It’s really surprising that DAWs continue to focus on peak metering. Peak meters really aren’t useful for mixing. (You might as well just have a clipping light that goes off whenever 0dBFS is exceeded - the peaks themselves don’t help with mixing.) However, continuously integrating/averaging meters like VU, LUFS, etc. are hugely useful because you get a better idea on the overall energy of each track.
Cubase users shouldn’t have to buy third-party meters just to get per-channel averaging analysis. It’s a fairly basic, fundamental requirement - almost as important as having faders in the mixer.