I concur, I have a similar setup. Most expensive computer I've ever owned. It just throttles at the drop of a hat. I worked through it all with the apple techs, jumped through hoops for many hours and provided detailed diagnostics. They dismissed me with "throttling is normal, there's no problem".
In the real world, my 2017 MBP performed better just because it didn't throttle. Ridiculous.
As for the supposed 'Low power mode' in Monterey - I'm not convinced that isn't just turning on throttling manually.
There are two kinds of throttling going on. CPU and VRM.
CPU is normal - prevents CPU temps going above 100C.
The issue is VRMs which have no cooling. And no public sensors.
The fix is to add thermal pads to your VRM chips to dissipate the heat to back plate. Entirely solves all throttling issues. Cleaning fans should help too.
In the real world, my 2017 MBP performed better just because it didn't throttle. Ridiculous.
As for the supposed 'Low power mode' in Monterey - I'm not convinced that isn't just turning on throttling manually.