At over 200F you only need a few seconds (max) contact time to sanitize. Most do it for longer than that. Not sure, exactly, why they feel the need, but the science behind what a liquid at that temperature will do is pretty well documented. We're not looking to sterilize here, since that's just not practical for most of us. Also, look at it this way, your dishwasher has a 'sanitize' cycle. The heater in there can only increase the hot water feed temperature by 20F. Where I am, that's locked at 120F. So, it's a 140F temperature for however long (probably many minutes). As you increase the temperature of the liquid, the time to sanitize drops drastically. Pasteurization happens in under a minute at 155F.
Personally, I run boiling wort through my plate chiller starting about 5 minutes from the end of the boil. I have a thermometer reading the temperature of the wort coming out of it. I make it a goal to hit at least 200F for at least 30-60 seconds each batch. Even that, IMO/IME, is going above and beyond. Especially if the chiller was cleaned well (properly) after it's last use.
Of course, you could also fill it with Star San for 5-10 minutes on brew day, drain 5-10 minutes before you're going to use it and still run the hot wort through it. IMO, not much of anything could survive that 1 2 punch.