Variable Valve Timing gives the best of both worlds - ECONOMY and PERFORMANCE due to a very broad power curve. Honda started with its VTEC and has perfected this system which was copied/adopted by other manufacturers. Toyota came up with its VVTi, Mitsubishi's MIVEC, Nissan's VVL etc..even late model BMWs have a variable valve timing system.
Honda did come up with an E-VTEC system which has a two stage VTEC that concentrated mainly on economy....but still produced comparable/higher power levels than its main rivals.
IF VTEC was for economy only, why on earth would BMWs,Toyotas (like Celicas and Camrys) and all the fast Hondas(NSX,Civic & Integra Type R etc) have this system?
Brand loyalty is a good thing...but to an extent.