It’s protocol negotiation, volume adjustment, and preparation for transmission.
That is to say, when passing someone in a hall, I want to stick to "hi" or "good morning", and feel uncomfortable if the other person says "how are you?". If it's the start of a conversation, "How are you?" works absolutely fine.
I think the problem is that "How are you?" doesn't finish an exchange nicely. You can easily greet someone in passing with A: "Hi" B: "Hi" <EOL>
It doesn't work (for me, at least) to go A: "How are you?" B: "(Fine.) How are you?" A: (optional)"Fine"
If A responds fine, it feels almost rude to abrubtly finish a conversation that had previously involved both parties asking questions about each other (even though they're really just being used as greetings). If A doesn't respond at all, that's rude for not responding to a question!
And I, too, find the exchange irritating and have now taken to a stock response of "hi" as a form of "nonviolent resistance"[01] to the question!
I know, right? I knew I couldn't be the only person around that gets annoyed when other ask this of me and I have to divert resources the answer the annoyingly irrelevant question.
even more so when after careful considering and answering, the answer is essentially ignored. every. time.