sweeping observations about camshafts (in of themselves) are rarely valid. Valve events are so dependent on the size of the door and displaced volume being drawn or pushed, that blanket assumptions are simply incorrect, or not wholly correct.
the stock 5.0 camshaft is quite small and the lobe separation is quite wide. Those characteristics are completely counterproductive in a restricted inlet motor. However, in a non-restrictive motor, for a given rpm, those are going to be the exact trends required by the valve events.
In a restrictive motor, retarding the camshaft (delaying the intake and exhaust lobes) can increase rpm because the intake closing is later. Hower, the intake opening is later as well, as is the all the exhaust activity.
What can happen is that the start of the filling process is delayed. When the motor needs all the help can get (in a restrictive inlet situation), the cylinder fill is diminished. SO what can happen is the motor spins higher, but the cylinder fill is non existent and the motor drops torque like a rock. Pair this up with delayed exhaust, the start of the inlet cycle might even be hampered even more by dirty inlet charge from the crosstalk with the residual exhaust.
On an unrestrictive motor, it can work the the other way. The motor will respond to the later intake opening because if it was opened too early, the port velocity is too low., etc etc
Can the small stock camshaft make usable power at 6500? sure, but it takes huge heads or a whole lot of inlet capability (forced induction). Will the stock 5.0L cam make usable power at 6500 in a stock or very near stock 5.0L (in reference to the heads and intake)? no.
I could go on for a long time, but basically I am just saying that blanket assumption on "cams" without any inclusion of the engine combination, simply do not apply. It takes all the puzzle pieces (or at least most of them) to see the big picture. A single pieces (or even a few pieces) could fit into many different pictures.
where advancing and retarding assumptions are correct is when the valve events are correct for the motor. Then small changes which alter the intake position will work as typically described, at least over a small window.
but if the valve events are completley wrong for the motor, the assumptions may end up being completely backwards.