Some good comments.
Would seem like a PITA every time you needed a tool you would have to go up and down the stairs... Whereas a lift you are at ground level.
At first I thought "This is too funny". I mean, who would not at least have some tools, in a tray or box, in his hand or by the edge of the pit (or another set of basic tools already in the pit), before climbing down to, let's say, change the oil or r&r a shock? But it's still a valid point about taking a few steps, up and down.
Not dismissing the extreme usefulness of any lift, especially for a professional shop where other clear bays may be available. But find myself curious as to why these simple constructions (pits) have been so universally shunned by homeowner-shops, in favor of a lift (or nothing).
On many older cars you had to get under the hood, as well as under the car, to change the front shocks, for example. Likewise with draining and refilling the oil, replacing the filter, and then checking for leaks. A grease pit facilitated this by providing instant access to both areas, simultaneously. Yes, a few steps up and down.
Sorry for not searching, first. But I have never seen a thread on pits since becoming a member. At first I was simply curious why the lack of love for a pit. But now I find myself easily playing devil's advocate. Most of a pit's natural shortcomings are very simple to overcome, especially if considered during the garage/shop's planning stages.