Confused about sqm interface

I have a TP-Link Archer C6 v3.2 with openwrt 23.05.2 (MT7621DAT dual core 880Mhz CPU)

My internet speed is 156 down, 172 up, if I setup sqm with cake/piece of cake my speeds are reduced to just 71/134 with heavy cpu usage, idle% in top goes as low as 30-40%

Interestingly, if I choose the Ethernet Switch: eth0 interface instead of Switch Port: wan(wan, wan6) I get much better speeds with A+ for bufferbloat with decent cpu usage.

ifstatus wan shows this

ifstatus wan | grep -e l3_device
        "l3_device": "wan",

Why does this happen?