High rise apartment buildings have a challenge with pumping water up more than 3-5 floors. This can be solved with intermediate storage on floors, but for high rises, forced air is the usual solution. Heat storage still works well enough with forced air, but water is much better due to internal piping through heat source, where air volume is harder to do there, and if gaining heat from outer shell, then insulation meant to keep heat in is not as good at heat transfer. Water is most perfect heat fluid in world. Air not so much.

And a lot of whoooshing in the walls just when using hot water.

This doesn't apply for heat delivery. Tends to be continuous. A faucet is different.