As well as bandwidth, power consumption. Chucking 3Gbps down a long wire is going to reduce battery life for a mobile product. Perhaps the controller can support it, but heat dissipation in the phone is significant?
Actually, that doesn't make sense - the adapter is powered from the iPhone or iPad and still has to chuck 3 Gbps down a long wire, except now you're using the iPhone's h.264 encode hardware and an entire ARM SoC in the adapter which you have to power too.
