Well, maybe, but my 2 hp, 1750 rpm electric powered splitter works pretty well. What you say is true about the torque but the splitter mechanicals do not develop half power of the hydraulic pump at the lower rpm, it pumps (in theory) at half the 3600 pump capacity. The pump pressure is what is set as the bypass pressure. With this reduced flow on a splitter with a 18 inch ram, 3.5 inch cylinder the cycle time is 14 seconds. My stove only takes 18 inch wood, so longer cylinder travel is just wasted time and a larger, heavier, harder to move beam.
With 3500 psi hoses on my splitter, I run the bypass pressure at 3000 psi. The splitter is something like a true 28,000 psi splitter, better than a four inch cylinder run at the typical 2250 psi. On 18 inch wood, it splits everything, literally at the flick of a switch. You do need 230 volt service, an extension cord, or a generator. Out in the woods, I bring the generator and have lights to work at night when, because when I get home, it is often dark.
There several advantages to the 1750 rpm motor. There is no cavitation caused by the high speed gear pump and there is far less internal friction of the oil, resulting in no (or minimum) heating of the hydraulic oil. That heat is wasted power. I have seen splitters that you cannot put your hand on because they are so hot. The pump whine of a 1750 rpm drive pump is acceptable, and you can talk, listen to the radio, split in an enclosed shed, etc. The one 3450 rpm electric splitter I have seen would have me looking for ear plugs and working outside. I cannot help but think that the engine to pump coupler will last longer.
When I build my next splitter for my son, my third, it will have a 1750 rpm motor, 230 volt, no more than 30 amp draw so that you can use it off a drier outlet. We will be using it in a barn.
Hopefully useful