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Valve does not cap download speeds.
More often the not, the ISP may limit the speed or the hardware may limit the speed.
Remember, data going to your RAM is a lot different then data going across your storage drives.
What I do - in those very rare cases, after checking that people report problems with Steam (and it is not that 'magic hour' when they DO maintain their servers/Tuesday?) - I change the Steam server/country.
Again, not sure, if that really has to do with the actual Steam servers. They are among the most reliable worldwide. The Akamai kind of 0.0000001% downtime kind.
"ISPs" ... on the other hand ... cannot trust them. Especially, when you have a lightning fast fibre flat connection?