At only 209lbs of torque, my Jetta was enough to suffer from a lot of torque steer, so I'd guess around 200 you'd start to want a RWD car.
My MS3 has over 275 hp and over 300lb-ft of torque and I don't really notice torque steer often. Torque steer management is a science, particularly balancing the stiffness of the left and right drive shafts. My MS3 has a 3 drive shafts, one is fixed to the engine and the two moving shafts are the same length. This helps to control torque steer. It's even a problem in some RWD setups, but only really on the race track.
What's wrong with revving a motor that's designed to spin faster? A motorcycle engine that makes 150hp and a big truck engine that makes 150hp both make 150hp, they just need to be geared differently to put the same power out at the same tire speed. The motorcycle engine likely will not last as long at full output but that has nothing to do with power output.
That motorcycle engine will spin for years at 8k while the larger engine will probably fall apart the first time you rev it that high.
HP is not "just" a calculation off of torque, they're forces related by RPM.
There are other forces too... like the force on engine bearings, vibration forces that increase with rotational speed squared. Also, running an engine twice as fast, or more, doubles the number of cycles that each bearing sees. This reduces their load carrying capability, increases heat generation, and halves their useful life in terms of hours of operation. Adding gearing stages causes extra energy loss through the gearing stages and additional vibrations and forces the system must endure. Engines that last a long time are slow and have low specific power output for these reasons and more.
There is a real, tangible benefit to having torque, and thus power, available from low RPMs through higher RPMs. The vehicle is more comfortable to drive, fewer gears are needed for normal driving, fuel economy is improved, etc. Clutch slippage is not a viable option for overcoming a low-torque motor, clutch material goes away too quickly and a larger/heavier clutch adds some imbalance and inertia that will really hurt a high-revving engine.
Your ideas are correct in the simplest of theoretical environments, are you a physicist who likes to live and work in a friction-less vacuum?