Why does N64 controller have 3 handles?

Why does N64 controller have 3 handles? The controller was designed with three handles as a means to be held in three different ways when playing games. One of these methods is to hold both sides of the controller to use the Control Pad and face buttons, similar to the previous Nintendo controllers.

The controller was designed with three handles as a means to be held in three different ways when playing games. One of these methods is to hold both sides of the controller to use the Control Pad and face buttons, similar to the previous Nintendo controllers.