GM didn't think about it in 69, but with the locking steering column, once the car was up in the air, the lube tech could not turn the wheels from underneath to get the clearance needed to get the grease gun on the zerk.
That is why the zerk in the side came along a few years later. Otherwise, one had to remember to leave the key partially on so the steering column would not be locked after the car was in the air.
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