- First initial and last name are used for some things, such as usernames.
- First name and last initial are used for some things, such as public displays where you don't want to have the full name
- Last name is used to sort lists
- Names are entered differently due to error or constraints in different places, so you want a way to search the parts that stay the same. Sure, you can imagine everybody just had a string field, but it can't happen all at once. And on a global scale, there are definitely people who will enter their name differently anyway.