Why is this allowed?
Because McAfee pays for it?
Seriously, this is why I never use the updater. I ALWAYS update ALL my Flash Players (10 of them) manually.
Bookmark those links. They stay the same even when the version is updated. Disabled automatic updates (set it to "notify" you, but not install), so you can download the linked FULL installers when you need. It takes about a minute longer, which is a LOT less than removing McAfee, and alot less hassle too.