Yeah the gist is really to have a sensible balance if using a frame cap, for me if a game is well optimised like say Dead Space, or Callisto (in its current form) then a frame cap of 75 or 85fps is perfect, the GPU isn't running maxed and the game doesn't dip below that cap. Everything is nice.
Other games though 60fps seems to be the norm because of the huge dipping range they seem to have just randomly or when stuff happens. In Hogwarts indoors for example I can get 120fps or more but turn the camera around slightly and suddenly it's 90fps, then walk through a door and it's closer to 60fps. So with that kind of massive swing being seen, it's more sensible to cap at 60fps. Witcher 3 next gen is the same in this regard.
For competetive shooters online obviously this is all different, people want no caps at all and fps is what matters above all else. Thankfully I no longer play such games