Alright, after spending all my dang time on this, here's the deal.
Eibach still uses pre-2010 Toyota bushings on their 2010+ products, even though Toyota changed the bushing size in 2010. That's why the play is there. It's the wrong bushing. Eibach claims that this doesn't matter and is OK. Obviously Toyota disagrees.
I'm pretty disappointed in Eibach, to say the least. Perhaps it doesn't matter practically, but I'm pretty sure that both their top mount lower bushing as well as this lower eyelet bushing are incorrect, and for whatever reason, they don't feel the need to change it. I guess it doesn't really matter in the end if everyone is happy with their suspension. I really, really hope that this does not cause issue with my 4Runner down the road. I am trying to decide how to proceed at this point.
With 150 pages of this thread, I cannot believe I am the first to notice this.
Eibach Fits Incorrect Lower Bushings in their 5G Pro-Truck Sport Shocks.. Thoughts?