Fun fact: almost every phone on the market has the hardware. It's just drivers/software that are missing (and, more recently, the antenna's been unavailable with the removal of the audio jack. The radio chip is still in there though)
I mean that we may think that supporting fm radio isn't worth it, but, if it's only a matter of software, it could be done without much trouble. For example, if the android ecossystem was truly open, this feature could be supported by the interested part of the community, allowing users who want the feature to have it, while not bothering anyone else.