The problem is that I can't declare the variable and set it's value as part of the same operation. I'm forced to declare a variable with a nonsensical or incorrect value then correct it later as part of a logically distinct statement. This introduces a window into my code where some piece of memory is known to be wrong and puts the onus on me to not use it between its declaration and it's being set.
It's a small nitpick in the grand scheme of things, but it forces me to allow a class of user error (and, in some cases, concurrency issues) that other styles of programming make impossible.
And also it usually adds to the line count, which is annoying.