People don't seem to want it.
I remember about a year ago people were proclaiming the evils of no hot seat multiplayer, after it settled down someone started a thread about how he hoped a new FPS had four player hot seat. The responses?
"God no! The screens would be so small!"
"No! I never want to go back to that!"
When no context of how evil publishers are people ran to thinking having hotseat multiplayer meant no online. Causing them to screm and shout and push. Hell, further down i suggest a drop in mechanic for FFXIII like Eternal Sonata that resulted in someone sending six paragraphs explaining why it would never work because people just don't hang out enough... despite the fact the drop in mechanic would mean friends could come and go as they pleased.
While it was only a small group the feed back does likely represent a small group of people. Some seriously don't see hot seat gaming as a selling point. So I guess people do leave it out because it doesn't make them more money.
However its not so much "MONEY HUNGRY WHORES WE ARE LETS CAN IT!" and more so "Why spend six hundred dollar putting a spinning disk on the fork nobody wants?"
The problem is, as usual, likely the fact that your a minority in the gaming audience. It may suck, however the majority gets what they want. Why spend money on something hardly anyone will notice, or want?
While one might scream "Because its the right thing to dooo!" As i normally say, wait until your actually in the same position as some of these people before you begin making some statements.