They're meant to be a species that takes their hunting ability as possibly their biggest point of pride.
I don't think it's that they don't have the tech, given they've been shown to have been doing this for hundreds/thousands of years (IIRC in AVP it's indicated they've been hunting on earth for something like 5k years), but that they like to have an element of risk in their hunts.
From what I can remember from the various films, comics and books as it's meant to be a test of skill their equipment is adjusted for the occasion, for example the shoulder gun in Predator isn't that much more advanced than the shoulder spear things in Prey (if anything the shoulder spears are arguably more advanced, they're guided reusable micro missiles*) but the spear things are more limited in that you only get 3 shots then you have to retrieve them, so the spear things may be considered "fair" against an enemy that can only use a distance weapon every few seconds, in the same way that human hunters tend to consider it to be skilled to kill a deer with one round.
*My first thought on seeing them was Knife Drone from Iain M Banks' Culture books (small offensive/defensive AI controlled drones, often literally looking like a knife or similar, able to use it's own body offensively and usually armed with other weapons such as micro missiles).