Why do we still use the "graveyard circuit"? Why are we placing ourselves in dangerous base-to-final approaches?

Landing is one of the most dangerous phases of flight, and our standard circuit pattern includes that classic ninety-degree base-to-final turn. When stall speed increases exponentially with bank angle and when higher angles of attack are required to offset the resulting reduction in vertical lift, why do we still put ourselves in these risky conditions?

Military aviator friends of mine have shared that they are taught to perform a constant bank angle all the way from downwind to final, while also accepting altitude loss to avoid increased AoAs. To me, it just seems like such an obvious circuit we ought to start implementing in our flights. I'm sure varying conditions will call for our standard deadly circuit, but why aren't we using what I've heard labeled as 'bad weather circuit'?