Anybody ever see an opera singer belt it out in a reclined position.
Mechanical aspects aside.....
Lung perfusion varies by position (prone, supine, upright). Lower lung perfusion in the recumbent position would also explain lower heart rates reported by many. Heart rate is controlled by the Medulla Oblongata, which uses CO2 levels, temperature, etc. to set the desired heart rate. Aside from neuro muscular adaptation when converting to bents, I believe (my opinion) that lower lung perfusion explains my lower FTP on a bent vs upright; however, I have only been on a bent for 13 months. I have worked very hard at it and have seen enormous improvements. Age could be a factor.
Plenty of riders experience lower power levels on a bent compared to an upright but there are a few youngsters who report no such loss. My money is on age, lower lung perfusion, and improper muscle recruitment