Except that it doesn't produce 60hp more, because your comparing different engine speeds.
A) if the low speed cam was used, I'd expect to see around 150-160 hp at 7500rpm (give or take various influences like choking). So that's just 30hp or so.
B) If the high speed can was engaged at 3500rpm, it's reasonable to assume the power at the wheels would be greater than on the slow cam. By NOT changing at 3500rpm, the engine is working below optimum.
C) in that example, the fast cam isn't very extreme anyway , so chances are, for pure performance, you'd be better off with JUST the high speed cam, and the reduced weight/complexity of not having the vtec system at all.
Hence it's for idiots. It's not optimised for output OR economy, but to sell cars. To idiots.