I think with the Hayabusa the extra 340 cc is the VVT. The Busa motor has a natural smooth wide torque spread. Race replicas need to excel in a very narrow area at the top of the rpm range to be great racers. That makes it difficult to get the max out of them especially on the street. VVT makes the bike easier to ride. And of course you already know all that.
Suzuki has always made a big effort to make engines rideable. I remember in the 70's when the Honda Elsinores had explosive super power the Suzuki RM bikes were torquey and rideable winners. I think it is the Hayabusa's power spread that is the true secret to its longevity. This engine is amazingly easy to ride.
I'm not sure if it's possible, but I can see VVT used to help a big displacement motor meet tighter emission regs and still be able to growl. That might be interesting if it is even worth the trouble. The regulators are generally not to fond of variable polluters. The Suzuki VVT is also pretty simple. It has ball bearings and uses centripetal force to move the cams. Looks to be pretty bullet proof. Others use solinoids and motors to position the cam shafts, more complex more trouble maybe. Another thing people don't get is Suzuki is committed to getting it mechanically right. I think this is why so many Suzuki models have such staying power.