If I right click on a terminal in ubuntu, there is this "Show Menu Bar" option. If it is checked or not it doesn't make any difference anywhere. So what does it do ?
Kinda related question: How to show gnome-terminal menubar?
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The default terminal being used in Ubuntu is actually intended for Gnome environment, where you can see top Menubars of applications you are running constantly . However, Unity - the default environment in Ubuntu, always auto hides Menubars.Thus the "Show Menu Bar" option is useful when in Gnome environment, and as you stated doesn't make any difference in Unity.