>And it’s not like 256 bit hashes are expensive.

A key fingerprint is a usability feature. It has no other purpose. Otherwise we would just use the public key. Key fingerprints have to be kept as short as possible. So the question is, how short can that be? I would argue that 256 bit key fingerprints are not really usable.

Signal messenger is using 100 bits for their key fingerprint. They combine two to make a 60 digit decimal number. Increasing that to 256 x 2 bits would mean that they would end up with 154 decimal digits. That would be completely unusable.