That's undershooting the possibility by a lot. If I plug two computers into each other via USB I would expect the OS on each to establish a network link at the best-available bandwidth.
I'd like it to work USB 1.1 through 3.2, not just Thunderbolt. We have dual role, why aren't we using it? Host side thinks it's talking to a NIC, device side acts like a NIC.
But it's not automatic. You gotta do it manually https://support.apple.com/guide/mac-help/ip-thunderbolt-conn....
I would have expected airdrop to automatically switch to thunderbolt if such a connection exists, but it doesn't.