7200 RPM drives indeed have faster access (in terms of seek latency) and higher sustained throughput but, heat and power is not simple variables as one might think.
Especially RED drives are marketed for NAS systems (from home to SMB size). When a drives are installed into a closure, things like power and thermal budget comes into play.
NAS boxes are designed with strict limits and if they cannot cool themselves (and the drives) off or cannot supply the required power to drives; data corruption, performance/life span degradation may occur.
In extreme cases (with large storage arrays) calculated overall power budget can skew and may cause blackouts in some parts of the data center. There's a presumed ~2W difference in power consumption between 5.4K and 7.2K drives. We can safely install 60 of them in a 4U enclosure today. If we add 4 enclosures to a rack, that creates a ~480W difference, which is a one HPC server or 2-3 low-load, 1U or 2U servers. This is indeed significant.
While some of these drives are in MyBook enclosures, REDs may end up in very different places and may cause problems. In that case, head or spindle noise is not even the smallest concern.
If we're talking about noise, continuous (spindle) noise is much more degrading than head/seek noise. For me, even benign noises like USB fans have much more noticable effects after the day than mechanical keyboard noise for example.