Sears paid a big fine over their 5HP motor "rated" that were really 1/2 HP, I think it was on the vacuums, several years ago. Someone - probably a off work lawyer- got them on false advertising with some gov agency.
Take a 1 HP motor with 1.7 SF and indeed it will give you 5 HP for several seconds, then it will start to smoke and hopefully blow the breaker before it explodes.
Lets give a cheer to Franklin for honestly building and rating their motors for submersibles.
If you want to get out of the motor rut, get on 3 phase service, and all these issues are behind you.
The system about HP ratings is broken and deceitful.