"Uh-uh. Respek Knuckles."
Join Date: Jun 2005
Location: CA
Posts: 1,094
Bikes: '06 LeMond Versailles, '04 S&M Beringer, '03 Quamen Bowls, '68 Raleigh Grand Prix (converted to fixed gear)
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There are smooth pegs with ridges, they're are just crappy cheap pegs that come stock on some bikes. In order to have cutaways like that you're sacrificing either light weight or strength, and since (smooth) pegs are already both heavy and have to take a lot of abuse, there's no functional reason to run them, only aesthetics.