We all know that the 22R(-E) is underpowered for the 1st and 2nd gen 4Runners, and honestly so is the 3VZE. So I can understand being "underwhelmed" by it's output.
The reputation of this engine isn't about power, it's about reliability.
YES, any engine that is properly maintained can do 200k+.
YES, most engines now days do 200k+.
YES, fuel consumption isn't as good as newer, larger engines.
BUT, and this is a big BUT.
The 22R is known for reliability even when not maintained. I drove my original one from December 2001 to April 2002 with a blown head gasket, and a dry cooling system for the winter, then started using water when it got warmer. I didn't even warp the head. That's something most other engines couldn't handle. While this was incredibly stupid, there are many more stories like it from other owners.
Remember that the 22R is a 30 year old engine design. From that time frame, very few engines survive to 200k+ without a complete rebuild, especially small 4cyl engines.
Fuel economy standards have increased dramatically, and with them has come new technologies. The 22RE is one of the first mass produced fuel injected engines, and has very little of the technology that is used these days to increase fuel economy.
Remember that when comparing to other engines, you MUST remember the age differences. It would be like comparing a 50 year old athlete to a 20 year old athlete.