It's been my experience that only the split audio/video streams are throttled - it's possible that your obscure video didn't have those available for some reason, meaning that you got the unthrottled combined file. You can force this behaviour by using the "-f best" options, though that means you won't get certain resolutions (1080p) or codecs (opus).
It's possible that this behaviour was designed to be pro-user; I can imagine a circumstance where a DASH (Dynamic Adaptive Streaming over HTTP) client hit a patch of network congestion, dropped to a lower quality, then the network cleared up and it downloaded the rest of the video in low quality before it could switch back. Throttling the speeds to just above the bitrate of the video would solve that.
Mind you, that doesn't explain the user-agent targeting described in other comments...