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Tyseley Locomotive Works were involved in the restoration of the old GWR station at Moor Street to bring it back into passenger use over the course of the last ten years, so in 2003 GWR 2800 class 2885 was cosmetically restored and moved to Moor Street station to mark their involvement with the project and to give a bit of publicity for Tyseley Loco Works.
Cost! Until there is a pressing need for another platform it seems a perfectly pleasant way of filling the space (as long as the weeds are kept down!). Bringing a platform up to current HSE standards etc is not cheap and if capacity projections don't need it then it won't get reinstated for the sake of it.