What is your background? This seems to stem from limited experience. The question should rather be: Why would anyone use the pendular step instead of a shuffle for dodging punches and low kicks? Here are some reasons in favour of shuffle already mentioned, others that are not:
You don't change your stance
With a pendulum step, you change your stance and need to readjust cover and possible combinations accordingly. No problem if you are ambidextrous, but this is not the norm and on a higher level, you effectively lose training time when trying to up two games at the same time.
It is faster
May it be boxing, kickboxing, karate, you name it: You are moving in shuffles all the time. It is much faster to drop a bit lower on the next contact and use the additional grounding for a bigger shuffle than to introduce a turning movement which involves many more muscles than just the front leg for acceleration. Even worse, these muscles cannot work in a direct line with the movement like in shuffles where you simply get your whole body behind your foot and knee. The quadriceps is designed to accelerate your whole body, and can easily do so when aligned accordingly. Thus, shuffles are faster because they make ideal use of muscles with minimal consumption of energy due to not making unnecessary additional movements. These are clear biomechanical reasons against pendular steps if you need to get back fast.
It goes further
With a pendular step, you cannot cover nearly as much ground. It is limited to half of the stance's depth. I have seen karateka cover several metres within the blink of an eye with shuffles.
You can chain shuffles much easier and faster
Since you have a linear movement in the direction you want to go, there is no additional acceleration needed for another step. You just move on. With pendular steps, you have to stop your turning movement and start it in the opposite direction. This means you have to work against your body's momentum if you want to do additional steps.
You are faster with counters
Similarly, as a combination of two reasons mentioned above, you have a harder time moving back frontwards: Not only you need to stop and restart two different directions of momentum (turning plus linear movement back/front), but you have to do so with more muscles that are also out of alignment with your direction of movement and frame. This costs both more energy and means you lose more time. Energy efficiency is very important in martial art bouts.
You are always stable and in balance, with very short contact necessary on a given leg
Pendular steps mean that for the time you are turning, you have to have weight on the back leg, as opposed to a fast push and being able to hover back. This gives a trained opponent plenty of time to take advantage of it, may it be in the form of sweeps or shooting for the leg after using a feint. Yes, in both cases the center of balance remains between the feet. But that is not the point. It is how evenly the weight is distributed between your feet and how long they need to be in contact with the ground. And here, we have major differences.
One last point
Being protected from low kicks is a strong assumption. Low kicks to the inside of the thigh generally hurt a lot more since you cannot mitigate with muscles as well. And if they learn that I do pendular steps to avoid low kicks to the front leg, they will fastly adapt to cover a tad more distance when they start the attack and go for the inner thigh of the other leg next time. At least that's what I would do.