Players also find it fun and satisfying when an FPS player can carry five large weapons, with 100 pounds of ammo for it, run while carrying all that 20 mph in any direction without getting tired, pick anything from the floor without slowing down or ceasing fire, etc. A realistic shooter would be much harder, and having to limp slowly after taking a stray bullet in the leg would suck.
And people play for fun, not for feeling the misery of war. Or, in that case, of the slow and restricted early medieval life.
People certainly also play milsim like arma, but that's definitely a minority.
Meanwhile in Minecraft I'm carrying around 2000 cubic metres of gold in my pockets.
some of the Rainbow 6 games, and Arma, tend to enforce carry limits much more harshly. OG Operation Flashpoint I remember being unable to stand from prone if my leg was shot. Which made it fun if I had just succeeded at something and needed to complete a mission otherwise having to replay it 100 times to get that far without the leg injury, so I would just slowly crawl 3 kilometers in the dark.
Those kind of shooters do exist though, Arma being the prime example. Players often joke that it is a walking simulator despite being somewhat constrained in favor of a fun game over 100% realism. But you can easily spend 30 minutes hiking to the next objective just for a chance to take a shot at somebody or get shot in an ambush. It isn't conducive towards a quick 15 minute game, but it is very much a different style of game with people sneaking and hiding and being bastards peaking out through leaves in the bushes 1000m away to shoot you, versus a traditional FPS where you can shoot and battle people like a coked up machinegun toting gorilla multiple times within just a few minutes.