I don't coat bowls. Most of the best pipes in my collection came bare. There are exceptions (Peterson 140th, Wiley) but I don't feel the the coating on those pipes is what made them good. Rather, the coating wasn't enough to make them bad!
So why do it.....
First, some pipes look really really sharp with a contrasting bowl color. Particularly pipes with a light finish.
Second, occassionally you'll find a pit or some streaking or something where you drilled the bowl. Rest of the pipe is fine, and let's assume the thing is not bad enough to cause concern in terms of pipe life. Cover it up and ship it (if you are Peterson, Savinelli, Nording, Stanwell, etc). No artisan I know would use a coating to hide a bad piece of briar.
Third, if you aren't totally sure about the experience level of a pipe smoker who might be buying your pipe, the extra level of protection, the "idiot proofing" of the pipe only makes sense. I try to gauge my clients' experience and smoking style, and usually offer some tips for a new pipe when I ship it. But selling in a more open market, I might coat a bowl.
4th if you choose your ingredients carefully you can make a bowl coating that is at worst neutral in flavor and at best quite pleasant. So the first couple of smokes are not unpleasant. Now, the briar I use, I don't find requires much break in at all, it's never unpleasant. But that's just my good luck, innit?