If JavaScript and CSS files were included inside of pages it would cut down the number of http requests and therefore make the page load faster. I feel like I am missing something because it seems like any organization interested in lightning-quick pages would do this. However, I don't recall any sites having tons of CSS and JavaScript into their pages as I look at the source code.
Questions:
What errors are in my statements above?
What are the drawbacks of this approach (shown in the title via psuedocde)?