I think too many people subscribe to the belief that that the web has to operate at a 60 mph pace. Maybe so when we're in hunting mode, but happens when we've locked in a scent? Too many times, there's not not enough to "eat".
To dumb everything down to simple parts as a standard best practice is just lazy. The design community is embracing simplicity to an extreme.
Case in point - I invest in with a brokerage firm for my retirement accounts. I'm looking for real meat as to the risks, fees, investment strategies, etc. Instead, I get a bunch of hypothetical charts and dumbed down data that is totally meaningless. I want substance, not a sales pitch. I want to read some heavy hitting shit. At least I can find an FAQ's section.. but how much real detail can one gain from that?
If you think your users are all stupid, what kind of message are you sending to them in the first place?