The industry has a self-regulating agency, the IFRA, (it has little to no government regulation), they decided on these restrictions. Their reasoning:
We can't do otherwise. If we can't demonstrate a safe usage level, it's not in our best interest to allow that material to continue to be used in a product.Since each fragrance is destined to move from perfume to lotion, to soap, and any suggestion that it might not be suitable for all people means that a product might not reach its full global market and the profit that come along with it.
In other words, the point is to make money, not great perfumes. Evil.