Well, first off, we should look at why having extra initiative passes is a good thing, and why most runners should definitely have them.
Runners, for the most part, are criminals. They make their living, if not from directly illegal actions, from questionable actions taken against generally larger, more powerful entities. As such, time is the biggest factor for any criminal. The difference of a few seconds can mean the difference between getting away, and getting surrounded by an HRT team!
From the get go,
everyone is against the Runners. the Corps will use the runners and leave twisting in the wind; Or just shoot them dead. The Police will arrest them on the spot for the crimes they have committed, the "tools of the trade" they carry (both inside and out of their bodies)... and the citizen will rat them out every chance they get out of fear, spite or apathy.
So, anything that gives them an edge,
any edge is welcome.
Now, Mechanically. Extra initiative passes function as extra chances for the players. (Note that most NPCs don't usually have extra IPs! Only those usually backed by a corporation, or the police. And even then they are limited to the more skilled) Usually to offset the larger numbers of NPCs over the course of an adventure.
Think about it. Over the course of a single run, a team might engage in a half dozen fights against the same number OR more enemies each time.... with out the extra passes to help balance out those numbers, the players are not going to survive long! eventually someone will roll poorly, just a single time, and then the modifiers start to stack up.. and it slides down hill fast.
Now, Speaking as someone who usually plays with just 1 or 2 passes (to start..), yes it can be a little annoying, but down forget, those initiative passes came at a significant cost! Both in terms of Essence and cash! (for cyber) or Karma (for adept powers/spells)... That type of investment should be rewarded, not punished...
***
And on a different line of thought: just what can a Samurai
do with an extra 5 essence and $220k??? Mega damage soak? Mega dodge monkey? Mega shooter?

Are you not just trading one issue for another?