if your game has a competitive aspect 60MHz is probably too low for graphics
Even if you divide that by 1,000,000, I think you're buying into a little too much hype ;-)
(I'm assuming you meant 60 Hz frame rate here.)
Console first person shooters (with competitive online matches) often run graphics/physics at 30 Hz, and networking at 12 Hz or 10 Hz, and still seem to be mightily popular.
Also, if it's competitive, then the competitive players will have nice graphics cards and CPUs, and thus the min-spec experience isn't necessarily what they will compare to.
When it comes to graphics, you can also scale back a LOT on quality in favor of speed -- simpler shaders, opaque instead of translucent foliage, lower display resolution, fewer (or no) shadows, lower-resolution textures, etc. It all depends on what your actual bottleneck is.