many things like low level gaming api wouldn't work, and FYI we talk about ages when virtualization was at its infancy at best (Windows 95 era there was none that I am aware of for consumer PCs, XP era still super basic, quirky and resource hungry)
People running VMs aren't trying to play games on them though, are they? Seems like the best reason for VMs and refreshing back to start each time is perfect for freedom fighters and others web surfers that don't want their host system polluted by bullshit developer's and their internet games.