That's true, but it's not very fun. A series of hands in which you determine how heavily to invest allows strategy to control for randomness. A single-hand five-card-draw showdown is a single decision about which cards to replace, and is largely determined by the shuffle, and the single bit of strategy "how many cards did the people before me ask for".
There are a lot of variations of poker. Playing single hands of, for example, five card draw makes sense without wagering.