Why Don't Games Have This Type of Selection Feature?

In Kingdom Hearts (Christ, where are we going now), you can equip four actions to the face buttons, accessed by holding the shortcut button (L1 on PS and LB on XBONE). Well, by actions I mean items or magic, making it easy to quickly access those actions. I don't know why there aren't two, but that's not the point I want to make. I just want to ask: why don't more games implement a system like this? By this, I mostly mean action games. Think, DMC. Instead of slowly cycling through a list via R2/RT, why can't I just hold a button and press another? Hold R2, and press A for Cerberus. Hold L2, press O for the Shotgun. Maybe they can even apply this to style-switching. Hold L1, and press Triangle for Trickster. Obviously DT would have to be reassigned, but I'm sure they could make it work. Seriously though, why don't any games have this sort-of feature? Its very quick and intuitive, far more so than tapping the trigger five fucking times, hoping you don't accidentally select the wrong weapon.