Why not? It’s done for drag racing, cruising and stop/go type of driving.
I know you need X amount hp to get to a certain speed, so wouldn’t gears give you more top speed?
Do gears make horsepower? No.
Your statement would only be true if you had the wrong gear ratio to begin with and you ran out of rpm before using it all. An example of this would be a 440 hp with 4.10. Its top speed would be dictated by the gear. But in this discussion, the presumption is the gearing is correct.
Also, accelerating a car quicker is totally different than top speed. See car people get this wrong when they start working on boats.
Gear ratios and rpm aside, if it takes 800 hp to make a given car go 200 mph, that is what it takes. Gear ratios don't make hp, but will effect how long it will take to get to top speed, and top speed will be achieved when you either run out of rpm, or run out of hp. To get 800 hp to go 200 mph, you will need the the correct gear so that the engine achieves it's maximum hp rpm at the 200 mph, generally speaking.
If the physics allow you get to 200 mph with 600 hp for a given car, then 800 hp will get you to something like 220. But if in that car the 800 hp only goes to 200 mph, its because it has the wrong gearing.
Also, at the 1/4 mile track, gear ratios don't really change the trap speed (mph), only et. This is why using track mph and race weight is the best method for estimating hp.