Remember this site wasn't designed specifically for the carousel. I think the queue borrowed from LTRR a little, and the ride sits on the site of the old merch shop, so space would have been a consideration. This control panel is similar to what was opposite for Pounce and Bounce - rather than the more elaborate panels for Tweety, for example.
I guess this position would have permitted them visibility of the gates, the ride and the queue, but given the space around the carousel, putting it 'facing' the ride would have required it to be placed further back, and then standing room behind it is also required, so it looks like space compromises, while perhaps also reducing how much ground is dug up to run cable.
*Everything said above is speculation based on my own observations and knowledge. I do not claim to be an expert and i'm certainly not a MW insider. Take this info at face value and note that I could be entirely wrong.
Side note - I heard Tweety's floor is being dug up and changes are being made to the control panel over there too.