it's funny that 60 FPS was a standard for most 3D polygon arcade hardware from Namco and Sega in the 1990s System 22, Model 2, Super System 22, Model 3, System 23, and Super System 23 and these systems are below Dreamcast level power. (except Model 3)
60 FPS could've be a standard with the Dreamcast, PS2, Cube, Xbox generation but it wasnt. mostly do to the huge range of developer talent & quality.
60 FPS should be standard like bilinear filtering is on texture, or screen resolution. but unforunately framerate is alot harder to control than having filtering on every texture or the like.
but it still could be done. the problem is, developers aim for a certain graphical level first, then think about framerate later. it should be the other way areound. framerate should come first, everything built with 60 FPS in mind first, then work on the level of detail and the graphical look you want to achieve AT 60fps.
framerate is not about better graphics, it about smoother gameplay,