Well, that's your opinion. But consider,
1) Imagine if FSO executables themselves would be contained within an installer and instead of statically linked dependencies, these dependencies would instead be external files in various directories. Likewise the launcher should be contained within a single executable you can simply download and place in the FSO directory. In addition the executables can share any external dependencies such as OpenAL32.dll without any fuss. Which incidentally the old Launcher 5.5g does. Also a matter of consistency, why should install procedure of the launcher differ from install procedures of FSO executables? The old launcher's didn't.
2) Admin or root permissions should not be required at any time. The last two obstacles are installation of retail FS2 and use of registry. The latter will be gone soon and the first one could be bypassed by extracting data without launching actual retail FS2 or GoG installer. This approach can be used cross-platform for both retail FS2 discs as well as GoG.com installer and Hellzed has already made this
possible, all it needs is a solution that works on retail FS2 discs, linux, os x and windows alike.
3) Operating system does have per-user profiles and they can obviously store application per-user settings should this approach be desirable to follow in FSO and launcher. Regardless, it should be optionally possible to keep all user data strictly in FSO directory. For one this allows you to copy the FSO directory whenever and wherever you please without having to re-install anything or worry about user data, launcher profiles and whatever else, secondly this allows you to keep local FSO directory in sync between multiple computers, while including per-user data. Or store FSO dir permanently on network drive, including per-user data. None of these scenarios fully work out because of wxLauncher.
4) Launcher does not need its own installer in any use-case I can imagine. All it does is store a profile(s) containing flags used to launch FSO and hardware setup. In typical FSO scenario the singe-executable launcher would be downloaded either by user or installer into the FSO directory. The installer can even create shortcuts to it if desired. In typical total conversion scenario (like Diaspora), they may either use FSO installer (after (or if) support for total conversions have been implemented) or use their own installer, again placing the single-executable into FSO directory and creating shortcuts if desired. There is NO NEED for launcher to span multiple files and directories or exist outside of FSO directory.
5) Assuming you had two launchers which were on-par feature wise but with one difference. One uses an UAC prompting installer that by default installs to Program Files instead of FSO directory and stores settings in user profile. The other is single executable you can drop into FSO directory and stores settings in FSO directory. Which one would you use?
Obviously you can install wxLauncher into FSO directory into its own directory, but that still doesn't get rid of the UAC install prompt nor storing data in user profile. I actually do install wxLauncher into FSO directory and then create a directory symlink from my AppData\Roaming\wxlauncher to my FreeSpace2\wxLauncher\data directory. It's still something I find annoying and I'd rather not bother with, especially since the old launcher did exactly that and nothing more or less.