As far as why zero doesn't ship with fairings, I totally agree with you that it doesn't add up.
My guess is that 1) the list price of the bike is already very high, and they didn't want to drive it any higher by including any hardware they didn't have to
No reason they couldn't offer the fairings as a dealer-installed kit option, similarly to the power tank battery module.
Suppose
handwave that a slipstreamed Vetter-type fairing costs $3000 installed and improves 55 mph range by 30%, and 70 mph range by 40%, then we have the following configurations:
S ZF8.5: $13k, 64 miles @ 55 mph, 53 miles @ 70 mph
S ZF11.4: $15k, 85 miles @ 55 mph, 70 miles @ 70 mph
S ZF8.5 Vetter: $16k, 83 miles @ 55 mph, 74 miles @ 70 mph
S ZF14.2: $17.5k, 106 miles @ 55 mph, 88 miles @ 70 mph
S ZF11.4 Vetter: $18k, 110 miles @ 55 mph, 98 miles @ 70 mph
S ZF14.2 Vetter: $20.5k, 138 miles @ 55 mph, 123 miles @ 70 mph
Ignoring the improvements in riding comfort, charging speed, high-speed acceleration and top speed, I think you need at least 10 kWh onboard (ZF11.4) before the Vetter fairings start to beat adding additional battery modules in terms of range / $ performance.
I'm just guessing at the range improvements .. Terry says his 5 module 13.2 kWh "ZF-18" gets 125-150 miles of range at 70+ mph, which puts it in the ballpark of 100 Wh/mile. I don't know if a 2013-2014 bike would be more efficient; I think Terry is
running the smaller rear sprocket on his 2012, which I think is part of the significant improvement in 70 mph efficiency.