NAVI21: setting a power limit that's too low for the current power state will actually disable it

I discovered this issue while testing LACT on my 6900XT, I reported it and it seems to be a problem in the kernel driver that can be easily reproduced:

Run a game or something that will put a full load on the GPU. It has to be a stable full load
Lower the power limit to 150W
Instead of switching down to a lower power state, the card will start drawing well over 300W, I've seen it go as high as 420W on this card
The power limit is applied correctly when the GPU load is low enough for the card to switch to a lower power state

I don't know if this affects other cards or just NAVI21, but I imagine all RDNA2 cards are probably affected by this.

Overclocking must be enabled in the kernel of course.

Hardware description:

CPU: AMD Ryzen 5800X
GPU: 2d:00.0 VGA compatible controller [0300]: Advanced Micro Devices, Inc. [AMD/ATI] Navi 21 [Radeon RX 6800/6800 XT / 6900 XT] [1002:73bf] (rev c0)
System Memory: 32GB
Display(s): 1
Type of Display Connection: DP

System information:

Distro name and Version: Arch Linux
Kernel version: 6.6.1 (tested as back as 5.15, not a regression)
Custom kernel: N/A
AMD official driver version: N/A

Attached files:

Screenshots/video files

Video available in the original issue

Log files (for system lockups / game freezes / crashes)

Nothing out of the ordinary