Just my opinion here... no panty wadding about the sanctity of cherry, please.
I would think that EA's factories choose cherry for two reasons. 1) Large amounts of affordable, straight consistent grained veneers are available. This ensures consistency of product when manufacturing. 2) The wood is stable, machines, sands and glues well with no exotic tooling. All about manufacturing. If bunga bunga* was appealing and available with the same qualities I am sure they would switch as needed between the two.
*(BTW, bunga bunga was actually invented by me to describe all the mountains of exotic woods that we have now with 42 different names of each species. How the hell do we know FOR SURE exactly what we are getting? I have found that he more exotic the name the more expensive the wood. I think I have all the bunga bunga in my shop ((formerly Curly Eyed Hondurapeen Cocowengaba)), but they may have some at Woodcraft...)
So why do they load the crap on for finish at EA or any of the other furniture peddlars? Easy enough, when you ask the question you usually provide your own answer. The thicker, more opaque the finish is the more easily they can turn out matching pieces in a furniture set. So if the batch of veneers they got several months ago to build tables was a little pink, then it will still match the chairs made in another factory where the cherry was a little brown with almost no pink.
Robert