Worth noting that directors use high speed film to portray a feeling of confusion. The lack of motion blur gives that sense to the scene. E.g. the opening scene of Saving Private Ryan uses this effect.
This effect is now very common for action scenes in movies and also tons of music videos. Very easy to spot once you are aware of it.
Now, you're correct that the actual effect is done by changing the shutter speed. but the loss of light is often compensated for by using a faster film, since using a larger aperture has more significant effect on the scene in the form of DOF.