Sure, a single small context menu item might not make a lot of difference, but there are thousands of features like this, each servicing a different small set of people. In addition to the interface overhead of having all of those features, the engineering (don't forget cross platform, keeping it up to date, translation into 40 languages, and support) is never as small as you think it is.
It's painful because taken individually, we know we could fix an issue and make a set of people happy, but there are never ending piles of these issues, and we none of us want to let Chrome become a never-ending pile of menu items and buttons and extra leading to cruft and bugs.
Now I have made myself sad.