I don't get this as well. The only reason i use Tweetbot instead of the official client is because it allows me to set a list as a custom timeline. This is such a wonderful functionality: i can easily switch between the 'firehose' of everyone i follow (around 700 accounts or so) and a custom timeline that has around 50-100 accounts that i don't want to miss. You get the feeling that the only thing Twitter cares about is building new features (e.g. moments) instead of improving existing features.
I moved to a new city and I wanted to see who I followed that lived there. I had to spend 8 hours learning the API and writing a script to put those people into a list. I shouldn't have to do that.