I have a 100Mb capped plan. In reality it's more like a 120Mb cap but that very much is a hard cap as I can swap over to my CMLink SIM which is uncapped and get in the region of 3x that speed with the same device and location.
A couple of years ago, they used to sell these essential plans but very rarely actually put a speed cap on the account. These days though it seems to be actively enforced with newer contracts like the one I currently have with them taken out around Easter this year.
That is interesting, mine isnt capped at 120mbit, although round here it is very hard to find a fast EE location as most of the areas are not performing great. I have found the further away from the city centre I go the faster EE gets, but where I live it is definitely the slowest EE area I have found. It has the smallest cell out of all the city masts.
The test I did was to compare to 1p mobile, and a family member's EE sim (which isnt essentials). In all the tests 1p mobile pretty much matches the premium EE sim. In many areas my essentials will match both sims (even over 120mbit). But during peak hours my essentials is slower in some areas, but in other areas matches them.
I will be doing some more testing on Friday as will be going around the city for few things and will do speedtests as we move around and stop at places.
Also what will be interesting on Friday is now EE have formally enabled 5G SA in my city, so will be interesting if anything changes with that.
Just reread your post, I think that might explain why I am uncapped (but still not the same as I do appear to be traffic shaped), because the essentials contract was first agreed if I remember right about 17-18 months ago, its not a new one, the deal is so good I kept it, it seems EE retention deals have no expiry date.