Oh, those. Right. Well, several reasons:
1. Low orbit is full.
By the time you could build this thing, low orbit is packed full of satellites and stations who do not appreciate having to deal with all this dangly crap passing through their orbits and raising their insurance premia. And since they’re already there, they have priority.
(This is a big enough pain in the rights and liability ass for space elevators, and they at least are single-point objects that are statically stable, and won’t rip through all lower orbits like a buzzsaw if the mechanism driving them in the direction opposite to the ring cable decides to jam one day.)
2. High orbit is full.
By the time you could build this thing, high orbit is also packed full of satellites and stations who do not appreciate having hyperaccelerated outbound traffic - specifically, whose capacity to maneuver independently does not match up to their borrowed velocity - passing through their orbits and raising their insurance premia. And since they’re also already there, they have priority.
3. For the same reason as people aren’t keen on Lofstrom loops or space fountains either.
Because they’re dynamically unstable, i.e., if they stop working even for a moment, they fall right out of the sky. This is not, in general, a desirable property for a megastructure, and it’s a particularly undesirable property for the liability carrier for the megastructure consortium.
4. There’s a lot of cargo, but not usually that much cargo.
Seranth is the Imperial world with the most traffic - probably the world in the Worlds with the most traffic - which it handles just fine with six orbital elevators and a ring station.
(Because when it comes down to it, manufacturing soon stops being something you want to do on planets, because you have to start worrying about environmental externalities and planetary heat budgets and other irritating things.)
It’s still a lot of cargo in its own right, but interface cargo’s a relatively small fraction of the total in any developed system.