No, I'm pretty sure it's there because installing something that runs at ring 0 can do anything on your system. Look at all your internet traffic, files, make you go bald, etc.
Any sane security-minded person should slightly panic IMHO.
There are gaming consoles, or you can just not run their games, it's not like there aren't literally thousands to choose from. They're also just games, cheating is not a life or death thing, or it shouldn't be.
Alternatively, you could stream a game from a remote server like on Stadia. These anti-cheat systems are only for online games anyway, and you can let Google deal with their kernel driver.
"annoying" when dealing with graphics cards / passthrough if you're talking about virtualization and probably would not be allowed since the hypervisor would be a ring above the kernel module, effectively neutering it.
If you mean dual-boot, sure, that's a very reasonable solution as well. I just don't like to reboot often and would personally have a 2nd computer as it probably takes me an hour or more to go from "booted" to "productive"
Any sane security-minded person should slightly panic IMHO.