crib_Why do you have fps_max 160? What about those with 240Hz displays?
I lowered the FPS cap because so that more people could benefit from a stable, locked framerate by default, and so that there weren't so many excessive frames being output for many users by default.
An FPS cap is only useful if you can reach above it most of the time, and the previous value was very hard to reach. Now, more people will be able to reach this default, and can benefit from the stable, capped FPS.
240Hz is such a rare configuration, and such a rare FPS that people usually reach that it wouldn't be fair to increase the cap to a value that accommodates those users.
If you'd like to change fps_max for your own setup, you may create an autoexec.cfg file in a tf/cfg/user folder and set fps_max to anything you'd like