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For roughly past decade this debate has gone on. We could easily have 720p and 60fps on most games on PS4/X1, but people got 1080p in their head and pushed the market that way over frame rate. Resolution is valued first for marketing purposes and 4K is the latest buzzword in home video and games. For example YouTube put 1080p and even 1440p on videos before I saw 60fps offered as an option (which still seems rare).

Honestly, only in gaming do I hear a push for fps (I get why with it being an interactive medium). So while from a gaming experience you could claim is a misallocation of resources, from a marketing perspective I get the incentive.