This question was asked but not answered on
View From The Wing. So let's answer it here:
1. What do FT'ers think the reasons are?
2. What companies do this?
3. Does it annoy you as much as it does me?
My attempt at question 1: For one thing, bundling all the keys eliminates the chance that the company will lose one key. Of course it may increase the chance that a customer will lose the whole set, which then becomes a much more expensive proposition due to the need to change the locks, not just replace a key or two.