Streaming content is typically 24 FPS, 30 FPS, or 60 FPS determined by the content source. So what higher FPS movies/content are you watching on your $3K 120Hz TV? Sourced from.... ?
In space year 2025 there is no excuse for output to be limited to 60 Hz. Mind you, Apple did cheap out in 2022 by limiting to 60 Hz and they can always argue there is no 120 Hz content (although I believe on the consoles setting them to 120 Hz output can enable 40 fps modes in supported games which doesn't demand that much more performance than 30 fps, but feels a lot smoother).