The effect of brace height on bow performance is pretty interesting. It is true that a bow will give the most energy storage for a lower brace height. How much does depend on the bow design, and it can be pretty significant. But the reason many bows quiet down at a higher brace height and do not lose much, if any speed, is because the efficiency of the higher braced bow also improves. If you could track how much limb mass is moving for each inch of draw, you would find that there is more limb mass moving farther for each inch of draw for the first several inches of draw for a low brace height, compared to a bow at higher brace. You can think of it like two cars in a race. One has a more powerful engine, but can’t shift past 3rd gear, the other car has a less powerful engine, but can keep shifting to a higher gear.
There comes a point where higher and higher brace height does no good. For natural material bows, the higher braced bow is being held under higher bending stresses with no relief.
Alan