I believe because black couldn't hold the extra pawn after Re1, and white would gain some development in the exchange.
Ruy Lopez

there is a variation after Nxe4, most gm's just don't like it, not because it's bad, because it's not thier taste...

5...Nxe4 is perfectly playable - it's called the Open Ruy Lopez ; just not trendy at the moment...
When I see GM's play Ruy lopez there is one set of moves that comes up time and time again.
1. e4 e5
2. Nf3 Nc6
3. Bb5 a6
4. Ba4 Nf6
5. 0-0 Be7
My question is: Why not 5. ... Nxe4?
Clearly there is a good reason or GMs would do it. Is it just that they'll be behind on development or is it a bad move in a way I can't see?