How does cid make power?
Then spin the 632 to 15k, now who's winning again? This is why this argument is circular. The 'common wisdom' is correct - bigger wins every time, but you keep throwing imaginary crutches at the 'bigger' motor. Apples to apples, displacement wins. HP is just torque times rpm, and torque is just force at a distance. Increase the force (bore), the distance (throw) and you increase torque. Displacement ups both of those. Whether an engine can continue to make HP above the torque peak all depends on the heads and the valvetrain. Using 'similar' build arguments is meaningless with such a rhetorical question.
I petty much agree with what you are saying. I think it would be more accurate if conventional wisdom was this "Bigger wins every time in theory, in practice it depends."
In real life many times and I would argue most times there are "crutches " that are thrown at a bigger engine. I know you know this already. Sometimes it's the cylinder head. Sometimes the carburetor or the exhaust. This list could go on for a mile and it's likely that you have encountered some of these limitations or crutches in your own builds. In theory if you have a carb that is not a crutch for a "big" engine and you make the engine bigger eventually it will become a crutch.
Some reasons why you might encounter a crutch.
1. Budget. I list this first but because for most of us this is a crutch at some point.
2. Rules. For those who race, santioning organizations impose all kinds of limits that dictate the type and or size of builds. Naturally aspirated, carb size, restrictor plates, limits on heads and intakes, spec parts, exhaust limits, RPM limits, compression limits, even cubic inch limits just to name a few.
3. Technology. In the past limitations were overcome by new technology. Lighter, stronger materials were developed to eliminate previous crutches. Technology will likely eliminate crutches in the future.
4. knowledge. Good old fashion trial and error can lead to a better understanding of how things work. Testing with new equipment can lead to a better understanding of how things work. Studing others work can add to your own Ideas and lead to that eureka moment that eliminates a crutch and takes you to the next level. Even participating in this discussion might inadvertently cause me to learn something.
5. This is ridiculous. I've wasted too much time typing this out. I need to get back to work. Sorry if you wasted your time reading it.