the problem, I think, is it seems like a cheap way of introducing challenge. Specially if it's reused four DLC packs in a row. "Oh, the PC is an unstoppable powertank, too bad we didn't plan ahead for that... except that we already knew we where releasing DLC. Ah well, let's just strip him naked." If that fails let's increase the enemies max health!
Of course, doing this is not intrinsically bad or wrong. Blood Money, apparently for I haven't played it, has a challenge that goes beyond this by way of hacking and timing your movements (I think?), unkillable foes and essential NPCs.
The player can also accept this losing-your-inventory-at-the-start mechanic more readily if there's a sound in-story reason for removing your inventory. In FO1 you get this when captured by the Lou, hell most RPGs have one main-story event where you get captured and need to retrieve your inventory, but why is it that I can tackle any other mission in the game after I'm an unstoppable tank with my full inventory, quests that haven't been specifically tailored for late game stages, but this one that I'm buying separately and actually tells me I need be a minimum level can't?