Why? Marketing and profit margins.
Unfortunately, I think it boils down to "Corvettes always have more horsepower than Camaros", at least in the consumer market.
If you take a look at the GM Two-Mode Hybrid system from 2008-??, the powertrain was quite a bit more capable than what it was constrained to.
The 2ML70 transmission was, roughly speaking, a 4L80E with two Remy HVH-250 cores in it. Those cores can do 80hp/147lb-ft continuous and 110hp/240lb-ft peak each at 350V - more with higher cooling fluid flow and voltage. Add that to the 332hp/367lb-ft 6.0L V8 it has, and you should have a blistering 672hp/847lb-ft available on full-combined-power takeoff, with at least 160hp/294lb-ft available in all-electric mode - enough to drive a modest load at freeway speeds.
As delivered and tested, you got a lower payload and a lower tow rating than the conventional 6.2L gas-only version, it accelerated slower, and electric-only was only available up to 32mph flat, 10mph uphill towing. As redpoint5 noted, GM only claimed a net 379hp - lower than the big 6.2 V8.
My guess is, much like how they substituted a constricted intake manifold on the V8 in the Camaro so it performed worse than the *identical* engine in the much pricier Corvette, they intentionally detuned the hybrid so it didn't beat the big V8. That also allowed them to go with a smaller battery pack, to keep the cost down. Have to keep the profit margins in line, so they mostly built them as fully optioned high-end vehicles. So they got some good ad copy from "Hybrid!" and "20mpg truck!", got some EPA fleet fuel economy benefits, and got to test out a bigger full hybrid system. I never really heard anything "bad" about them - unlike the variable displacement tech of the same era - and the 4x4 Tahoe Hybrids still go for over $10K on the used market.
Since then, we've been seeing steady improvements in power and payload ratings in fullsize trucks - but mpg has been relatively constant, or slightly improving, with a few "ringer" high-mpg offerings on stripped-down 2WD models. Engine sizes have also been dropping, without a loss in power or payload. So efficiency gains are still being made - at least per EPA tests. As fusion210 notes, there are mild hybrid options on most consumer trucks, either now or soon, and auto start/stop has been steadily improving.
I think we'll continue to see steady incremental improvement, and the manufacturers pretty much all have the tech available to spin up a plug-in hybrid relatively quickly if the market opens up for it. It will still need to "not beat the big engine" and not lose any profit margin, though.
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