Yes, we do know why the feature is not available in the LocationSensor Isaac. Only a few features of GPS have been programmed. Native speed along with the ability to read NEMA sentences and many of the features of a device GPS receiver certainly would be nice.
I agree this feature would be helpful however when you say "It would probably be relatively easy to implement", do you speak from Java coding experience? App Inventor is OpenSource, and at the moment, no programmer has championed enhancements to the LocationSensor Control in AI. The existing LocationSensor code is here
http://appinventor.mit.edu/appinventor-sources/ . Take a look at the code. If you are a Java programmer and you can add the feature, MIT would be glad to consider your proposal. While you are at it, also please add NEMA sentences. I can program Java, however I am not experienced enough in Java to do what is required.
John suggests waiting for MIT to add the Native Speed .... great idea, unfortunately, no one is working that issue at the moment.
Programming AI is relatively easy; rewriting the actual AI code and modifying components is difficult and time consuming.... just so you understand. Help is appreciated. I sent a note to the great guy that programmed the LocationSensor mentioning your desires. If he has time and other priorities permit, he will consider. I vote for LS enhancements too. :)
As a note, you can do ALL of this using Android Studio...AS has an extensive geolocation Library, AI does not.
Regards,
Steve