Yes. In fact California defining how fast their high speed rail must go is part of what put them in their current situation because they aimed too high when no one in the USA has ever built anything like what they are trying to do. In their own legislation for the project the train must have a top speed of over 200 miles per hour and must go from LA to San Fransisco in 2 hours and 40 minutes, which necessitates an average speed of over 150 miles per hour.
If they went with a more modest goal of 250kph (155mph) maximum speed (Class I HSR), it almost certainly would have been easier and cheaper to build. The problem with that is that the Bay Area -> LA times would have been 4+ hours which would have been a pretty hard sell vs flying or even driving.
