They have. In fact that was the naff period for dot matrix LCDs. I'm not sure why they did it. I think it was cost related. I had something much worse though; the Casio colour graphic calculators. Yes it was this dire:
Edit: because I can't be arsed this year, a quick profitable enterprise based on supply and demand for you:
1. Buy TI 8x calculators which are being dumped on ebay now at end of school and university terms. £6-15.
2. Wait until September to October and sell them for £40 a pop buy it now.
I did this a couple of years back and made nearly £500 in a week