'needing' 100+ hp just to drive to work in the morning is insane
The overwhelming majority of efficient vehicles still have 100+ HP so it's really common. Corollas are 130-140, Honda Fit's are 120-130, and the 2020 Yaris is 106. I agree we don't "need" that, but the engine designs keep getting more efficient so 100+ HP 50+MPG vehicles will be the new normal for achieving the best MPG in the city and on highways.
The Mirage... in a world where used Corollas, Civics, Yaris, and Fits exist the Mirage doesn't make sense. Any of those cars at 3 years old is probably still more reliable than a new Mirage, and they will still be on the road for years longer than the 3 year younger Mirage.
A huge chunk of engine power is used for things other than making the car move. Alternator (and the vastly increased electrical load vs older vehicles), water pumps, power steering, power brakes, A/C, etc. Gone are the days when all you had was a alternator and water pump, hah.
Moreover, a small engine running at closer to max power is much, much less efficient than a larger engine running well below max. The larger engine will also last a lot longer due to not being run as hard.
There's also the fact that a modern vehicle is a _lot_ heavier than in the past due mostly to safety and emissions control, which means even ignoring all the other power draws you need more power for the same size vehicle.
Both of these reasons are the reasons cars have more hp, and generally are capable of going way, way faster than is necessary.