I know this is a common feature in EV’s, but not sure about phones.

I read on Reddit that this is the case shortly after posting my original comment. They say that defeats the purpose of the app somewhat, making it mostly useful for seeing what apps are draining your battery the most, considering that using the app will drain it. However adding another limit on top of the cap at the hardware level should extend the battery life further, and I don’t think it drains my battery much, so I’m going to keep using it.