One thing to point out, The floppy thing isn’t due to formatting, the units themselves were screwed up: It’s not 1.44 million bytes or 1.44 MiB regardless of formatting - they are 1440 kiB! (Which produces the raw size you gave) which is about 1.406 MiB unformatted.
The reason is because they were doubled from 720 kiB disks*, and the largest standard 5¼ inch disks (“1.2 MB”) were doubled from 600 kiB*. I guess it seemed easier or less confusing to the users then double 600k becoming 1.17M.
(* Those smaller sizes were themselves already doubled from earlier sizes. The “1.44 MB” ones are “Double sided double density”)