Network speed limits are generally measured in Gbps, Mbps, Kbps, …. The feature is using KB/s as units which is completely counter intuitive.
It seems to work well though, I set 2048 KB/s in the admin page and got:
Which is about correct, yes. But can this feature be made to use more intuitive units?
(This was beta4, can retest with beta8 if needed)