The answers given are correct in a way, but IMHO the real reason is little to do with security (IoT devices as a whole are laughably insecure) and more to do with practicality.
A full OS is very “heavy.” There’s a lot of hardware required to implement one. You can’t run it on a $3 microcontroller with 20 pins. But a lot of IoT devices don’t need much more than that. If you’re reading a sensor and transmitting that info to the cloud, you really have no need for several GB of storage and memory and a sufficiently powerful processor (and related peripherals) needed to run an OS. It’s all wasted effort and money for something that has zero benefit to the end user.
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