Agreed. The truth is that LazyCAM isn't really full blown CAM software. It is a means to go quickly from a CAD file to a g-code file, and back. There are a lot of things it lacks, but it is pretty easy to learn and quick to use too.
I'd think the logic with LazyCAM is that it gives you, in tool path, a what you see is what you get approach. It doesn't show cutter diameter or table size like other CAM packages do... but you can still do some pretty amazing things with it.