as a general rule, on IOS, apple has a "vison" of not over-complicating the interface and exposing low level options that would allow the user to "get into trouble"; They have a vision that iPhone "should just work" - like a refrigerator, I don't configure my compressor cycling times for my fridge, maybe it automatically adjusts according to compressor wear, I don't care, i just plug it in... and it works - this is apple's vision for iPhone
So as for this feature: Users turning off the throttling can cause the device to crash - That doesn't jive with apple's above sated vision.
However, I am of the opinion that apple should have had they system notify users if their battery wear was causing the phone to throttle, so that is an oversight on Apple's part.