OS and browser bundling makes sense. It is important for the programs to have access to a rendering engine built into the OS. On OS X, this is Webkit (which is used by Safari). In Windows, this is Trident (which is used by IE). In Linux, this is either Gecko or Webkit/KHTML depending on the environment.
There is absolutely no technical nor use-case reason for iTunes to be forcing Safari out as an "update" to users who have never used it before. The entire purpose of this is a desperate attempt at stealing userbase since no one is using Safari on Windows.
The wording of this being an "upgrade" to someone who has never installed it is confusing to most users. Most users blindly hit "yes" to any "update" prompts, which is precisely what Apple is counting on here. If people actually wanted to install Safari, they could get it from the site. The whole purpose behind this move is to trick people into using it.
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