I don’t think they would throttle connections. But 2Mbps is too slow even for a single thread. I regularly get about 1-2M bytes per second with one thread which is at least 8Mbps.
If the backup is resuming from a previous incomplete one, then the speeds given at the beginning may be misleading, because Duplicacy would skip some chunks that have already been uploaded but those skipped chunks will be counted in the calculation of speeds.
Another factor is the B2 upload servers. Each upload thread will get a different upload server, and the performance of each upload server may change over time as they are shared with other users.