The xorg-server ebuild depends on xinit, but it doesn't need to, many users use a display manager or other programs to start the x server, making xinit useless.
While you're not wrong, I do consider xinit a vital part of xorg-server and I do not see any value added if we were to not depend on xinit, beside the number of users who would go with depclean and chaos ensues X does not start. This is one of those cases where while not *really* needed, it's better to have it around. I acknowledge that, and decided to keep it anyway.
I understand this decision, but why not make it into a useflag that is enabled by default? It would not pose a problem for someone doing a depclean, and for those that don't need it can just disable that useflag.
Because it's one more added complication for me to maintain. xinit is a 300kB package. It's not a big deal. Put it in package.provided if you're insistent on saving the disk space.