I've never met a person who chose to swap over putting an eject button on their politoed. It gets you a free swap to begin the SS assault and all things considered Pelipper wouldn't be able to hit first due to his awful speed making the U-turn obsolete if you could have just used an eject button.
And 9 times out of 10 politoed will be able to take the hit.
Why would you run Eject Button on a Politoed
ever? Leftovers or Damp Rock are much better option, seeing as Eject Button is one time use and really not that convenient. Can you back up your statements with facts, please? How can Pelipper not take hits - and what does speed have to do with it?
First of all, let's understand that you'll usually have Pelipper in on something that cannot threaten it (Heatran, Keldeo, for example, but we are not sure where those will lie in terms of tiers this format). Since the opponent cannot do anything against you, they will most likely switch out - if you U-Turn as they switch, you get a free switch into something that beats their switch-in. Eject Button doesn't work in this case because it relies on your opponent attacking you, which they aren't likely to do.
Even if they stay in and attack you, you can get a
slow U-Turn out (tanking the hit, or whatever, since they cannot do anything to you) and get a free switch into whatever you want. In no case is Eject Button better than U-Turn, especially since it takes up an item slot. Let's also understand that Politoed is only 5 base speed faster than Pelipper, which, by your logic, would mean that it is also unable to take any hits (unless for some reason, 70 base speed meets some arbitrary threshold).
Don't know anyone who would spend the time using rest on a drizzle setter either.
Edit: (This is getting a bit off topic from what OP wanted so I'm going to cut it.)
As ShanWow said before, Rest is run on some Politoed because you need it alive to keep your Swift Swimmers able to sweep. In fact, Rest is essential on
Smogon's Recommended Set. Though this is for last gen, not much would change theoretically (except for the fact that people will use Pelipper over Politoed).
If you don't want to go off topic, back up your statements with facts. If you post wrong information, someone will always be there to correct you.