I… uh… I know it’s going to be an unpopular opinion, but it makes sense. It’s not intended for daily usage - macs wake up on a keyboard or cursor movement. Sitting on the back increases the chance of accidental presses when you are trying to plug something in.
You have a very few specific incidents where you would need to press the power button. 80% of their user base will not use the power button after the first initial press.