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The second number is really just a relative power rating. Currently the 28-30 models are right around 250hp while the 35 models are about 300 and the 40 models are about 320-330hp. 50 seems to be about 450hp. An M prefix usually means a bit of a power bump as well (M850xi, M340, etc.).
Back when turbocharging wasn't common, engine displacement was a good indicator of relative engine output. A 3 liter engine could output about 50% more power than a 2 liter engine with some relative losses.
However, now with turbocharging and using modular components, engine displacement has very little to do with power output. Higher output engines still need strengthened internals and better fuel delivery systems, stronger transmissions, stronger diffs, and stronger shafts. So it really doesn't make sense to define a car by how much volume the combustion chamber displaces. It makes no sense. A 250hp 2.0l engine will need to cost more than a 200hp 2.0l engine even if they use the same block.
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