Couldn't and shouldn't games and programs be made in a way that doesnt require that, because of the security risk?

I've been wondering, what is that mechanic really about?

"run as adminstrator" is to run programs with elevated privileges (more control over your operating system), the games that require it are either legacy games or games that integrate more with the operating system (like that analog horror bonzi buddy game)

In case of newer games, probably starting as early as those actually made for Windows XP, so from 2002 or so onwards, that tends to be the case, but since the concept didn't exactly exist before that point, older Windows games, mainly intended to run on Windows 9x originally, may require the privileges in order to work, or they may be required just in case, because there may be instances (such as if they're installed in Program Files or some other protected area) in which they won't work otherwise, since at the time they were created there was no reason to think of such possible restrictions.