[E Sully]

Keep in mind I am not a well expert.
Total depth of the well is different than the static water level. My well, although I cannot find any official records, was drilled to 300' according to my elder neighbor that grew up here as a farmer. A steel sleeve (PVC liners are common today) is installed to a depth of about 60'. The static water level runs about 15-20' depending on rain and drought situations. Since I have good water supply and good makeup a shallow well pump is all that is needed. I could install a submersible pump at a deeper level if I wanted.
Your well is a different style. Well points are used in softer or sandy soils. They screen the loose soil or sand out. You would have to ask your well guy for more precise information, but it would seem he found that 70' was deep enough to supply the amount of water you need, but the static water level would be 25' or higher if he found it only needed a shallow well pump.
The well point is filled with small holes to filter out soft soil or sand, and needs a check valve right above it to maintain prime. Mine can use a foot valve since it is inside the casing with no loose soil or sand being drawn in.