It is more complicated than that, it isn't just a trade-off between brake dust and good performance. BMW and other German manufacturers use carbon black in the pad material. That is why the pads leave black dust. Look at any BMW, Mercedes, VW, etc. All pads make dust, but the carbon black and other residues from the bonding compounds stick to the wheel, and are unsightly. They are used because they help make the brakes quiet.

There are alternatives such as Kevlar, and other bonding agents, that don't dust. But they cost more. Factory pads are designed to have good performance, be quiet (to reduce warranty costs), and be cost effective. They are a good, safe, bet for replacement pads. There are other ways to get performance without the visible (black) dust, but they tend to cost more.

I don't get why black wheels are a badge of honour. They are just a result of design tradeoffs that while reasonable for some, aren't acceptable to others.

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2007 X3 3.0si, 6 MT, Premium, White

Retired:
2008 535i, 6 MT, M Sport, Premium, Space Grey
2003 X5 3.0 Steptronic, Premium, Titanium Silver
2002 325xi 5 MT, Steel Grey
2004 Z4 3.0 Premium, Sport, SMG, Maldives Blue