One reason might be that truly simulating real life would probably make the game quite boring. Think about the limitations:
1) Your character gets tired.
2) You can't jump too high.
3) You can't carry 25 guns including a bazooka, sniper rifle and grenade launcher.
4) Reloading would take a long time.
5) If you jump off a ledge you get hurt.
Etc...
I think people notice its off, but ignore it in favor of having a good time. Eventually, if you play a game long enough, you might forget what you noticed, but thats more a result of playing a lot.
1) Your character gets tired.
2) You can't jump too high.
3) You can't carry 25 guns including a bazooka, sniper rifle and grenade launcher.
4) Reloading would take a long time.
5) If you jump off a ledge you get hurt.
Etc...
I think people notice its off, but ignore it in favor of having a good time. Eventually, if you play a game long enough, you might forget what you noticed, but thats more a result of playing a lot.