It's because of things like not being able to click to move the pointer on it, or having to control the camera virtually entirely by the mouse. It's something that works great on controller because one thumbstick can move the pointer while the other controls the camera.
What you're calling the pointer (that targeting reticle on the ground) isn't really needed as a pointer with KBM, though, because we have the mouse pointer.
As such, all that "pointer" indicates is the point around which the camera rotates when you turn it. That's pretty much it.
I found I ignored the round targeting reticle completely. All it was good for was figuring out what I was stuck on when trying to move the camera, but after the first couple of hours I stopped getting the camera stuck becuase I learned how it worked.
And I usually had the camera at the lowest possible angle, which parks it directly in top of the targeting reticle, so I couldn't even see it.
I maintain that DAI's tactical camera works very well. It's not perfect, but it's the best BioWare has done.