I am unsure who your "we" is, but I am pretty sure that it does not include me. Firstly, as was quite correctly previously stated, fuse ratings actually allow for relatively short term overloads that far exceed their nominal ratings. Hence the fuses that Tesla is using on the P85D allows for up to about 1,300 amps for many seconds without self destructing (see message #22). Tesla had to limit the maximum current draw to 1,300 amps on the P85D because most fuses have a rather wide resistance and I^2*R tolerances. The "typical" fuse would handle higher current than 1,300 amps, but for reliability the worst case has to be used in the design. If that were not the case some Tesla owners could find themselves stranded with blown fuses even though the "typical" fuse would have easily survived under the exact same conditions. Tesla did not replace a 1,300 amp fuse with a 1,500 amp fuse. They replaced a wide tolerance fuse (having a much lower nominal rating than 1,300 amps) with a much tighter tolerance fuse. The latter fuse, because of its tighter tolerances, lets Tesla increase the current and still avoid blowing the fuse with worst case fuse resistance and I^2*R tolerances.
Secondly, lets do a little simple math. 691 HP = 515486 KW (I am using a slightly higher wattage per HP than reality due to rounding). Now we can divide that wattage by 1,500 amps since that is the maximum current draw. The result is 344 volts (rounded). That assumes 100% efficiency for the inverters and motors. Induction AC motors with copper rotors (what Tesla uses) are more efficient that most industrial motors and this is why Tesla actually manufactures their own motors. A very good industrial induction motor can be 97% efficient at its maximum load. I don't know the efficiency of the Tesla inverters but I suspect that it is very good. Lets assume for the sake of argument that it is only 90% (it is likely better than that). Given those numbers, the battery voltage would need to be 394VDC (rounded) to deliver
691 HP.
If I instead use 95% efficiency for the motors and 95% for the inverter, the battery voltage would have to be 381 VDC. Note that the nominal terminal voltage of the P85D battery is 400 VDC. At that voltage and 1,500 amps the battery output power is 600 KW but it will drop pretty rapidly from there to a slightly lower voltage under load. That electrical power translates to 804 HP. Since the P90D "Ludicrous Mode" rating is 762 HP, that allows for only a 2% efficiency loss, unless the terminal voltage has increased somewhat on the higher capacity battery.
Manufacturer internal combustion engine HP and torque ratings are measured at the crankshaft, these do not include the losses due to the transmission and drive axel gearbox (usually a locked up differential). Since Teslas have a simple gearbox rather than a complex transmission the motor gearbox transmission losses will be lower than your common automotive internal combustion engine power transmission losses. Hence the Tesla will be placing more of the generated power to the automobile axels than an internal combustion engine.