I have seen similar shaping. This gives a quick responsive browsing experience but throttles bigger downloads/streaming.
It also can be implemented badly. Azure VNET peering had 200M level and 100M level. Where 200M level was 200M most of the time, whereas 100M level was 200M for 30s and 0M for the next 30s.
It also can be implemented badly. Azure VNET peering had 200M level and 100M level. Where 200M level was 200M most of the time, whereas 100M level was 200M for 30s and 0M for the next 30s.