Is higher OVF magnification possible?

I don't understand the "viewing with both eyes" technique that people here rave about when the OVF magnification is 0.6x. Looking through a "normal" lens (35mm) is more like looking through a 87mm lens. How can you make quick enough adjustment from left eye to right eye?

Is there any reason why Fuji doesn't make a higher mag. like the Leica M3? It would make the 58/60mm frameline much bigger and easier to compose.