I think you have a misconception about the drug and how most of our experienced Opioid users feel about it. The main issue with Tramadol, although there are others, is the fact that there is a relatively low threshold in terms of provoking seizures. One can't exceed 300mg of Tramadol without sacrificing their safety. Seizures are not a laughing matter and can be quite harmful to the nervous system if they are severe enough.
The second issue, is that Opioid tolerance typically rises rapidly in the succeptible individual. With such a low threshold, maybe for someone without access to stronger Opiois, this can present a problem as the dosage continues to escalate. Rational decision making also tends to go out the window as an addiction and compulsive behaviors increase.
"Maybe I can get away with 400mg just for today... and the next day... and the next day"
This, I feel, is where most of the trouble comes into play. Otherwise, I don't see a lot of issue regarding the use of Tramadol. It's simply a weak Opioid with SNRI effects. If you're consuming 40mg Oxycodone, you're already approaching the level at which Tramadol is effectively useless to you unless you're willing to make that previously mentioned sacrifice of safety.