How do you mean? The throttling* is still entirely there, you just now have an option to say specifically in the detected battery fault cases "please just have my phone turn off or crash rather than having it continue to function (but slower)".

AFAICT, this switch won't affect throttling in other cases, such as near/sub-freezing temperatures.

* this is a pretty complex issue; "throttling" isn't even a great term once you actually start to understand how the power management works