> Out of curiosity, why are such high fps numbers desirable? Maybe I don't understand how displays work, but how does having fps > refresh rate work? Aren't many of those frames just wasted?

The reason is triple buffering:

> https://en.wikipedia.org/w/index.php?title=Multiple_bufferin...

I just quote the central relevant sentences of this section:

"For frames that are completed much faster than interval between refreshes, it is possible to replace a back buffers' frames with newer iterations multiple times before copying. This means frames may be written to the back buffer that are never used at all before being overwritten by successive frames."