Comment by zamadatix
And even if you somehow included "everything" with the "perfect" equations, you'll end up with a lot of stuff which does not have a good closed form solution anyways and good luck getting that running (e.g. the dynamics around the air resistance/sound generation) via approximations both accurate enough that it looks better than "faking it" and fast enough that it's actually usable interactively.
This leads to what GP was saying: many just cut things off at "Hooke's law simulates a spring, so I'll use that, but the rest is a bit too much to fit so I won't do it" but "Hooke's law simulates a spring but adding a bit of not-physics based fluff approximates all the rest" actually gives far superior results even though it doesn't only use perfect physics equations as the former did.