These larger diameter tires reduced the sidewall flex inherent in thicker tires, and produced quicker response, better turn-in. The reduced flex also produced a cooler running tire with less pressure buildup and longer life.
That was sometimes true in the 1970s and 1980s (depending upon which tires you were comparing) when the standard tire had a 75% to 82% aspect ratio and most cars had drum brakes. Today the shorter contact patch of the extreme low profile tires is not so hot when going over an expansion joint or paint stripe when turning. As far as heat buildup goes, most is due to the flexing of the wider tread as it enters and exits the contact patch.