This seems intentional, but is confusing nevertheless. The guidelines and FHS are very clear that configuration files should go to /etc/. So I’ve filed a bug here so we can discuss this with the maintainer:
Just installed Fedora 34 about a week ago. I’m using the XFCE desktop, which I installed via the NetInstaller (rather than the XFCE spin ISO). I seem to be missing configuration files for pipewire. I don’t have a pipewire directory in /etc. I have pipewire config files in /usr/share/pipewire and a few in ~/.config/pipewire, but definitely nothing in /etc. It’s possible this is the normal behavior for F34, but I just wanted to double-check given that pipewire documentation always indicates the configuration files should be in /etc/pipewire.