The main reason some OEMs offer crazy amounts of HP is simply because they can. Compared to an ICE, fitting a larger battery and stronger electric motor is relatively easy thus allowing for a wide spread of trim levels and power. Add to the fact that entry level EVs are running around with 200-400 hp and more, a premium brand then needs something to differentiate itself powertrain wise.
The same was/is happening in the ICE world. A top spec Alfa will undoubtedly be faster, more powerful and a more sophisticated engine than a non-premium/luxury brand.
I think it's also down to how hard one push a car to get going. For example, I was speaking to a Bentley GT Speed owner and asked how often do they utilise the full potential of the W12 to which they said 'not often at all'. They went on to explain that it's a much more pleasant driving experience not having to strain the engine and it just wafts down the road but knowing what lurks and what can be had when needed is also a draw. Perhaps it's a mindset...
