Those numbers were chosen to minimise perceptible flicker from movie projectors and cathode ray tubes, they don't represent the limit of human vision perceiving motion, and indeed motion can look slightly smoother at higher fps.
(though you can achieve some of the same affect with motion blur, which live action TV and
especially cinema have lots of and gamers habitually turn off)
The other thing is games are interactive, and higher frame rates can slightly improve how quickly you can react to fast moving action, since you'll see it very very slightly earlier.
Unfortunately gamers are all petulant 12 years olds, so they'll insist these consequences are massive and that they'll be instantly "fragged" or "bombd" if they don't have 240 fps minimum and dad, daaad you don't understand and I'm going to my room ** slam **