I have a set of 650b wheels that I have ran in various frames and forks.
Fork wise I have ran them in Fox, Deville and some Rock Shox, bare in mind that whilst they fit I believe they would not be covered by the warrenty.
Frame wise I have ran them in a few different ones both FS and HT, you don’t just have to fit them in but also check to see if they foul on the seat tube at full compression on FSers.
As to whether they are bigger than a 26 with a big tyre, it is all relative, 26 plus big tyre cannot be bigger than 27.5 plus a big tyre!!
Why bother at all??? Good question and at the moment the biggest problem is there are very few bikes designed for them which means running them in 26” frames so the greatest downside is the higher BB.
They do roll better and grip better but the higher BB takes some getting used to but once you get your head around it they work great.
Downside for me is that they tend to tame things down and I like drifting and being on the edge so these are good but bad… hey just like all the other things about mtbing…
I suspect that bikes designed for them will become the dominate force over the next few years as they offer high speeds for less skill which is what seems to sell bikes.