We are? There are games like this in any modern "arcade" like Dave & Buster's.
If you mean why aren't we building highly specialized hardware like this any more, I'd say it's because most of that complexity has moved into software running on general-purpose hardware, which is infinitely more flexible and maintainable.
If you mean why aren't we building highly specialized hardware like this any more, I'd say it's because most of that complexity has moved into software running on general-purpose hardware, which is infinitely more flexible and maintainable.