An example of IRV's misbehaviour:
* 8 people vote: A, C, B
* 5 people vote: B, C, A
* 4 people vote: C, B, A
IRV eliminates C and elects B, but the majority of voters prefer C over B (12 to 5). The order of elimination dropped 8 ballots' information that they prefer C over B. To put that generally, IRV ignores the secondary preferences of large demographics.
Perhaps another example of why I think single winner voting systems should take all preferences into account (as Condorcet methods do):
* 100 people vote CentristX
* 101 people vote PolarizedCandidateA > CentristX
* 101 people vote PolarizedCandidateB > CentristX
* 101 people vote PolarizedCandidateC > CentristX
* 101 people vote PolarizedCandidateD > CentristX
The example is a bit contrived, but it highlights how disregarding secondary preferences (IRV's main feature) isn't a good idea. 403 people prefer CentristX over every other polarized candidate, yet CentristX is dropped in IRV's first round.
Disclaimer: I run modernballots, a voting website that makes use of the Schulze-family of voting systems: https://modernballots.com/elections/zombies/vote/