DoT cap of 35.79m exists and appears to brick any DoT damage that rolls above it

We put together a build that's capable of hitting DoT cap in the game. We found that we couldn't roll any ignite higher than about 35m dps, and that any ignite that would roll higher than this value inflicts a phantom ignite. The target is ignited but the ignite deals no damage.

If an ignite starts below the DoT cap and grows above it (due to target modifiers changing like wither stacks, curse effects etc) then the ignite shuts off entirely and stops doing damage, but the ignite symbol still appears on the target.

This indicates that the DoT cap from PoE1 exists in PoE2 but is being improperly handled.

Video documenting this, I hope this is acceptable material:
https://youtu.be/HdStIiMuXB0

https://www.reddit.com/r/pathofexile/s/PexeC8FeTf

It seems like this was also an issue in PoE1 pre-cap as this dev Reddit post demonstrates. Are we running into the same phenomenon here?