If the developers added in true first person, people would go "Wow, legs!".... and then totally forget about it. I've played several games in which you can see your legs and its not something you ever notice while playing. For the most part, you almost never look down far enough to see your legs while playing pretty much any game.
Bottom line is that this is a pure eye candy feature, and its an eye candy feature your never going to notice. I'm all for immersion where needed, but the developers are not going to waste time on something people are never going to see. If the game was designed with it in mind, then sure... but this is not something Bethesda is going to go out of the way to add.
Your probably right... And that's the problem, rather then add something that should be standard fare by now they'll instead leave it out and rely on the modding community to add it into the game. That's great and all for a PC player like me, but if you play it on Xbox or Playstation your just screwed.
As for it not being a big deal, that's completely subjective, just like it's my subjective view that it IS important... So whose right? The difference is whereas you are apathetic towards it one way or the other I actually deem it a mark of quality in immersion for the player.