Dave explored this subject a long time ago, but with FPGAs. He wanted to get a very large FPGA in a smaller package.
Short answer: there is no high scale market for such thing.
Long answer:
In my experience, the vast majority of applications of fast cores focus on the ability to perform multiple operations in "parallel" (true if multi core) or "fast sequenced" (if single core) while interacting with the real world in multiple ways - either via a plethora of serial interfaces or via very fast dedicated buses (USB2/3, Multi-lane SRIO, etc.) or external devices such as RAM. That, tied to the required additional pins power power and GND and the need to exhaust thermal energy fast enough from the device before it melts, increases the number of pins considerably.
You could argue that you can use PowerPAD for thermal dissipation, reduce the number of peripherals and maybe even remove the external RAM controller. Thermally speaking this would offset the absence of pins on the package; however, how to decide which peripherals to remove? Would your application require only I2S (for audio) or fast SPI? What about the customer that would also need some I2C or a small 16-bit memory interface for parallel ADCs? Spin another device variant?
If you want to categorize the device as a "MCU", then it would be almost mandatory to add non-volatile memory inside the device and increase the cost sensibly (not to mention the higher thermal profile inside the package tends to reduce endurance sensibly). Running 1GHz from Flash is impossible, thus you would need a great amount of internal high speed RAM. If you want to remove the external high speed RAM interface, how much internal RAM would be enough, given it would have to accommodate data+code?
Therefore, to answer your question as to why there are no 1GHz MCUs: there is considerable risk and cost associated with the release of a family of devices and nobody will target a niche market (unless there are heaps of money to be made) or a hot market of yore (audio processing, as you provided as an example) where other dedicated solutions exist at a fraction of the cost of a general programmable device.
So yes, you are right: there are no "real" choice's, only expensive ""forced-upon-you" solutions. - the forces are beyond you, I, the manufacturers and are imposed by "the market". Obviously this can change anytime, provided the money follows it - one example is the Allwinner device mentioned above. If it is successful, other manufacturers will follow.