A 400-hp Tacoma sounds ridiculous, but a 300-hp RAV4 does too. And yet, at least one of them exists.
Having driven the regular hybrid Rav4 in the rockies many, many times, I would say that 300hp in that vehicle makes a lot of sense, b/c the regular hybrid motor is screaming going over the passes at speed.
FTR I don't think a 400hp Tacoma sounds ridiculous unless you're specifically saying that hoping Toyota would do something that awesome is ridiculous.