My guess would be:
A) They are more expensive.
B) People were complaining about vertical play due to misadjusted pivots.
C) W&R got tired of adjusting them for people who couldn't figure out how.
Actually, per Glesser, spyderco was able to meet tighter (not lower) tolerances in parts production thus making the adjustable pivot un-needed. The adjustable pivot does not need constant adjusting, the only weak link is the pivot screw which needs needs lok-tite. After that it will hold for years.
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