Well, I don't subscribe personally to the "velocity is virtuosity" school, but there are plenty who do. Bluegrass as a genre seems to be devoted to it, but from rock guitar shred artists to classical musicians and everywhere in between, people pursue speed at the expense of letting the music sing out.
When I accompany the congregation at church I occasionally get grumbles because I play some things at 54 or 60 instead of quick-march time, but those same people often compliment my playing in general, and yet don't get that the soaring pace (for appropriate songs) is part of the deal.
I had some coaching from an experienced pro guitar player ages ago who said you should always play significantly slower than you can. Less is more indeed.
Some classical composer said that the music is what happens in between the notes. I'm not sure what he meant, but I like to apply it to this.
Just my opinion. I know a lot of bluegrass aficionados who don't agree and I love 'em anyway.
Cheers
-Glenn