Yes, that has roughly been my experience. The application throughput offered by IPFS is quite low while the packet throughput is very high. I was experiencing 5-15% packet loss over my internet connection while running IPFS. I'm not sure if a bandwidth limit would even help or if it is related to number of connections.
Presumably one could also run IPFS (or Brave) in its own VM, container, or hardware server and to rate limit traffic in and out of it.