The theory at the time was that if you floored it you just pumped loads of extra fuel into the cylinders, a lot of which couldn't be burned efficiently so you actually got no more power but used a load more fuel.
I think that has always been present in IC engines, not to be rude. I simply cannot think of a car I've owned from the 1960's forward that rolling into the throttle gave the best acceleration/fuel use. Throttle lag versus momentum. If it doesn't go towards excess fuel burn it is simply wasted at the tires, spinning or not.
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