No, that’s stupid. They don’t get anything from keeping that from you. And the main source of frustration comes from luggage handlers that are usually employed by the airports and not the airlines.
When they don’t give a damn, you won’t get your luggage. Like in this video where they insisted the luggage is still at a different airport. Because that’s what the computer said. And nobody looked for themselves which would’ve easily shown that somebody clearly forgot to do the arrival scan.