Honestly I think the real problem is the HFR still being too low in frame rate. It looks sped up because it is in that weird uncanny valley. Think about it this way: imagine you saw a plusating light. A normal slow speed would not even appear as a flicker, it would be comfortable and feel natural. However speeding it up will cause the light of course to go faster making it start to appear like a flicker or even strobe light. It feels uncomfortable for your eyes, and you hate that it is sped up. Eventually, however, if you speed up the light much, much faster the flicker will eventually disappear entirely, allowing you to only see a light coming at you with no pulsation. Now of course frame rate has nothing to do with flicker (that's refresh rate), but both have a necessary minimum to reach full fluidity. Low fluidity and full fluidity are comfortable, but in between bothers many. Try watching a 24hz monitor and you'll ruin your eyes. But see a 60hz monitor and your fine, since the upper flicker limit is somewhere between 50-72hz. Frame rate has some limit just like this going from watching a moving picture to seeing a movie that is indistinguishable from a play in a theatre. Now, I honestly don't know what that minimum frame rate is but it is far higher than 48 or 60fps or even 120fps.

Sorry for the long paragraph, but I had done a lot of research on this at a previous point. The human eye does see a far amount more than the typical 40-60fps people typically claim. Brain nerves can fire a huge amount of times per second though how much one consciously perceives from the eye is up to debate.