From the students' perspective, this is similar to giving them a textbook and asking them to show up for the final exam. There are three reasons I see the need to start with discussing the syllabus.
First, talking about the syllabus is an opportunity to introduce yourself and the course, learn more about the students you will be teaching, and set the stage for the semester. It is a beginning of your semester-long relationship with the class after all. Skipping the overview is like taking a road trip without looking at the map first.
Second, it takes more than one repetition of same material, and preferably in different forms, for the material to be absorbed and comprehended. Thus, when the responsibility is passed to the students, their understanding of the syllabus will not be as good, no matter how diligently they read it. How important is it to you that they understand the syllabus?
Lastly, the students are denied opportunity to ask questions and discuss the syllabus and the course progression, if that is not covered in the class. Sure, they can email you, or ask during the office hours, but the entire class will not be on the same page.