It could be higher of course, but then the boost ratio is also higher, leading to lower efficiency at low Vin. Or it could be somewhat arbitrary (preferably in the middle, say 200-300V, but 100-400 wouldn't be much of a stretch) using a SEPIC or flyback type converter instead of boost (with flyback offering the distinction of isolation too) -- but this also adds expense and/or losses, and these features (other voltages, isolation) are never(?) needed in practice.
As it happens, 400V is an excellent supply for subsequent stages, especially half-bridge or two-switch forward converter, or LLC resonant, using 600-700V MOSFETs. (Which was still pretty true in the days before SuperJunction MOSFETs were introduced, and has only been improved since then.)
(To explain that last point: prior generation MOSFETs scaled as Rds(on) ~ Vds(max)^2, so high voltage parts performed especially poorly in comparison. They were acceptable in the 400-600V range, but 900V+ parts were used more grudgingly, or best avoided altogether. Which was kind of annoying for industrial applications, where 400-480VAC input (560-750V bus) is common, needing 800V+ rated devices. This also made IGBTs more attractive than MOSFETs, despite their slower operation or limited voltage drop. (Industrial applications tend be more tolerant of slow switching, too.) SJ technology has brought significant improvements, for both types really, but in particular, MOSFETs now scale as Rds(on) ~ Vds(max), so they are competitive in any voltage rating. Nowadays, MOSFETs are preferred for high efficiency and low to medium power designs, and IGBTs for high power or cost-effective designs.)
Tim