Well, you could consider the pros & cons of using the blunted lance against the range of regular lances available.
Blunted lance has
1. Long reach, and
2. Deals decent damage comparable to regular lances.
However,
1. You actually need to hit the enemy, since chamber and regular blocking, and shields will negate the damage, and
2. The weapon is near-useless on foot, unlike some regular lances.
Regular lances, including the Calradian set and the Pendorian set, has
1. Multiple lengths for different purposes (Light to Heavy lances can be used as regular spears),
2. Piercing damage is the norm, only chamber blocking and regular blocking will negate damage, shields will take heavy damage if used, and
3. Regular lances are easily attainable, with their quality boosts, than blunt lances.
Of course,
Killing the enemy is more likely due to momentum while mounted increasing lethality, whereas using blunted lances guarantee nonlethal neutralisation.