Mind you, not ALL dwarves were fighter-equvilants, just every ADVENTURING dwarf was. Many were simply 0-level commoners with infravision and stoneworking skills. Same with elves and halflings.
Race-as-class, like most of B/E/M/C/I D&D, was designed to handle a one-dimensional concept of character generation. Fighters were strong and had all weapons and armors cuz that was the the stereotype. Clerics wielding blunt weapons cuz thats what clerics did. In one regard, it was extremely limiting because you were very limited in how you express yourself MECHANICALLY, but still have alot of freedom on how to RP your character (noble knight or horrid ravager?) In a way, it WAS simpler because it was supposed to be; those seeking true customization and additional development of character were supposed to play AD&D. (with rules like race seperate, multi-classing, and proficiencies).
B/E/M/C/I has a certain charm about it that is enduring. If you want a game that is simple and VERY stereotypical, its wonderful. If you desire any manner of "mold breaking" you'll be frustrated by it.