My GSuite account is also brand new, and legit. These are my current uploads:
*xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx: 66% done, 5.508 MBytes/s, ETA: 17m34s
*xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx: 46% done, 3.068 MBytes/s, ETA: 43m32s
*xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx: 41% done, 2.463 MBytes/s, ETA: 35m38s
*xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx: 48% done, 2.935 MBytes/s, ETA: 46m6s
*xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx: 98% done, 1006.355 kBytes/s, ETA: 5s
*xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx: 42% done, 4.660 MBytes/s, ETA: 41s
*xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx: 58% done, 3.905 MBytes/s, ETA: 26m54s
*xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx: 58% done, 3.366 MBytes/s, ETA: 5s
*xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx: 100% done, 1.730 MBytes/s, ETA: 0s
*xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx: 54% done, 2.680 MBytes/s, ETA: 58s
*xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx: 75% done, 3.364 MBytes/s, ETA: 10m0s
*xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx: 23% done, 1.236 MBytes/s, ETA: 2h3m46s
*xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx: 65% done, 7.398 MBytes/s, ETA: 26s
*xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx: 37% done, 1.652 MBytes/s, ETA: 55m58s
*xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx: 89% done, 3.068 MBytes/s, ETA: 13s
*xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx: 53% done, 3.642 MBytes/s, ETA: 11m55s
*xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx: 61% done, 3.078 MBytes/s, ETA: 43s
*xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx: 42% done, 5.807 MBytes/s, ETA: 34s
*xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx: 85% done, 943.643 kBytes/s, ETA: 55s
It seems strange that you would be capped. Could it be something to do with a firewall or something? If each of your uploads is being limited to exactly 700 kB/s, then maybe something is capping each upload individually?