Yes, in fact at least one of them got funding from YC: Matterport.
There are many others: Kuula, Cupix, iStaging, EyeSpy360... Real estate companies use them a lot, e.g. to create a virtual tour for prospective buyers.
Yes but they don't just use a random set of photos. They take multiple 360 photos for the specific purpose of feeding them into their virtual tour app. That's why you can pan around.