Yes, the point (or possible reasons for it) have been addressed countless times....just not to your satisfaction.
And just to clarify are you talking about all of the airspace now or just the bit you started talking about ie Holding at Nobby's?
Just to refresh your memory some of the points that have been offered
To close to the departing upwind leg.
To busy (airspace and workload to make changes that are safe).
Wake turbulence (there you go ACMS).
The what if's of engine failures.
TCAS alert.
because they can etc etc