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So, yes it's still slow, but at least it's closer.
And you're correct about coronavirus. The whole world is at home, bored. Steam is being hit HARD. Two weeks ago, when simultaneous users should be around 18 million at any time, they had skyrocketed to over 23 million.
Add to that the fact that many regions in the world have restricted all internet to maintain bandwidth for emergency services and you can see the problem.
As for switching your region, NEVER choose anywhere geographically close to you, as most people do, as that isn't going to solve anything. Think about it - if your region is having trouble, your neighbours are likely to as well.
Choose somewhere in the world that is currently asleep, and try to think of a region which is a bit less populated, and you should notice an improvement.
As for speeds dropping off to zero, yup, that's as intended, as downloads work differently for different games. Some games just go straight through. Others download a chunk, wait and unpack, then download another chunk, and so on.
I've been lucky in that I live in boring Lincolnshire, England. It's as dull and flat as can be. The upshot of that is bugger all people live here, so I get consistent internet speeds.
But once I had issues with downloaing during a Summer Sale and ended up getting good results from, of all things, the Arctic server (the one that's iirc, laid on for research assistants doing polar research).
I have no idea if that's up now, but there's TONS to choose from around the world.