In all other applications when you want to shut it down, it's the last option on the list. If you move the start menu to the top, then shutdown does indeed become the last on the list and the most common option, "Programs" becomes the closest by Fitts Law standards.
Even in the Program Manager in Windows 3.1, the Run and Shutdown options were the same place but the menu was at the top. From the beginning (of public releases) in Windows 95 you could in fact move the start bar to the top.
Having it on bottom was legally much cleaner, especially on the heels of 6-year saga of the classic Apple vs. Microsoft "look and feel" lawsuit: https://en.wikipedia.org/wiki/Apple_Computer,_Inc._v._Micros....
Anyway, this is 100% speculative - there is a few builds with it on the top, such as Windows 95 build 90c https://betawiki.net/wiki/Windows_95_build_90c but it starts on the bottom and quickly moves back there: https://betawiki.net/wiki/Category:Windows_95_builds
But really, menu bar on the top, colorful rainbowish icon on the left, clock on the right, it's very System 7.5 (https://apple.fandom.com/wiki/System_7.5)
Reminds me of McDonaldland vs Sid & Marty Krofft (https://en.wikipedia.org/wiki/Sid_%26_Marty_Krofft_Televisio....), and I quote: "We do not believe that the ordinary reasonable person, let alone a child, viewing these works will even notice that Pufnstuf is wearing a cummerbund while Mayor McCheese is wearing a diplomat’s sash."