We are not. We are extracting the cannabinoids into a carrier oil like olive or coconut, and not producing a concentrate like we would if extracting into alcohol and then evaporating off or smashing the buds in a hot press.
This produces a bitter tasting oil because of the other plant solids that come along in the extraction process. But, it is simple, affordable, and not dangerous to do, so it is a common extraction methodology especially for use in edibles.
Because of its bitter taste, finding ways to incorporate it into edibles is preferable and the powder seems to bring other attributes along for the ride like faster onset (close to inhaling), and much better absorbability so less is needed, or a given amount is more usable medicine like if used with something like the RSO protocol.