As a cadet (AROTC) we had to meet minimums or were relegated to remedial PT every MWF (yawn). Our specialty teams and those who went on to Air Assault and Airborne schools were held to a much higher standard. In the spring, our PT standards were raised every month, think 60, 70, 80, 90% so just about everyone was in remedial PT before flying up to Advanced Camp during summer. Notably, we had no failures.
I imagine there are some companies who reserve the right to hold members to higher standards, like 80-85%. These are likely traditions from decades past. I know at Navy each company is different and many have very old traditions, roles to play at Annapolis. PT standards may be part of this.
At VTech, the Army PMS publishes averages for each year, including GPA and test scores. Imagine the peer pressure and accountability to do well (keeping yourself out of the lower half).