SysVinit 2.74-10 makes the link /etc/initrunlvl -> ../var/run/initrunlvl However, /var/run/initrunlvl is no longer made....
THe symlink is still possibly needed for very old (3.03) systems in order to shut the system done. However, since those systems are pretty rare these days, the link will be created only when needed. Fixed in SysVinit-2.74-11.