I did poke around a bit more and found that I didn’t have the direct mode on, so it was hopping around. Switching that on and doing a direct connection made it much better, like 50Mbps. But that’s still only 25%-ish of the regular speed, whereas I thought it’d be about 50%. But way better than like 2% of the original speed which is what I had before lol.
Brit here. It’s always been like this, at least for my whole lifetime. I remember in the 90s they were trying to get biometric ID cards going with people’s fingerprints and retina scans on them, and the government has been pretty consistent with trying to undermine encryption, harvest everyone’s metadata etc. Best I can tell, we seem to be the testing ground for any Orwellian nonsense that gets dreamed up, before it gets shipped out to the States and other places.