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The Steam Summer Sale.
Doesn't matter. Bandwidth and server hits vary at times and locations. Also remember that today is the last day, likely causing even higher usage rates. http://store.steampowered.com/stats/
Ookla?
Considering the fact that these complaints of speed fluctuations go back for years it's probably a known issue that they've just come to accept rather than resolve because on a large scale resolving speed issues would be a rather massive undertaking admittedly.
The first question people should consider when up against speed fluctuations though is probably if they're using wired or wireless. Wireless connections are severely susceptible to fluctuation because of all sorts of signal interference.
https://steamstat.us/