Yes, because it makes rolling for initiative rather moot. Skip an action, and you're the first to act in any round f rfgor the rest of the combat.
EDIT: For example, why take the Improved Initiative Feat when someone can just skip a six second round and easily go before you?
But you are losing a round worth of actions for nothing. Besides the very first round initiative doesn't really matter, it is just the order people act.
What do you think the benefit is of giving up your turn in the first round to act first in the second round?? It is pretty much the same as going last in the first round... only worse.