I would love to see a video of a tank with 120x turnover with LPS's fully open. I'm at approximately 38x in my 180G and I'm playing a balancing act trying to keep my Elegance and Bubble coral happy. Even my Dendros don't like that much flow. If I had nothing but colored sticks and a bare bottom, I don't see where that amount of flow would be a problem. I've been in this hobby for quite a few years and have managed to produce some beautiful tanks. When you talk about the velocity, we are restricted to how our powerheads disperse the water.
Yes, we are restricted, to a point. If you aim a pump at the back of a piece of live rock a few inches away, you get the same amount of water movement through the pump, but the actual mechanics of how that flow moves around the tank changes considerably. This is the best way I've found to achieve extreme flow rates while keeping velocity to a minimum.
When doing this, the opposite side of the rock has a zone of lower water movement that works well for LPS.
I'm not saying that this is necessary in order to achieve a nice tank. Rather, I'm saying it's one more thing we can do to try to replicate the natural habitat of our livestock.