OK, I see you just don't want to admit that Apple screwed up. Obviously the new battery has enough current capacity and current capacity drops with each recharge cycle. Bigger battery means fewer recharge cycles and thus preserves current capacity longer.
Well actually, as an electrical engineer with experience designing lithium-ion battery powered devices, I feel like clearing up a misconception that showed up in this thread. Although it should have been obvious in hindsight, given that a new battery doesn't require throttling whereas a used one does.
Maximum instantaneous power draw IS a function of capacity. In addition to obviously lasting longer given the same current drain, a 3000 mAh battery CAN supply more power than, say, a 1000 mAh one, without incurring in excessive (transient) capacity drop and heat generation. It can also take up more current while charging without damaging the battery, which is the reason why at one time the 5 W charger was fine (given the first iPhones had battery capacities as low as 1150 mAh) while the new models see much improved charging times with the 12 W iPad charger, especially given the ~2700 mAh rating on the new Plus and X models.
From the first Google result on "battery datasheet":
https://www.ineltro.ch/media/downloads/SAAItem/45/45958/36e3e7f3-2049-4adb-a2a7-79c654d92915.pdf
Have a look at the top left figure on page 7. There you will see different discharge curves depending on power draw. There's a mention to 0.2C, 0.5C, etc.; C is the battery capacity in mAh, and converting it to a current reading in mA, it means e.g. a 1000 mAh with a 200 mA load (0.2C where C = 1000 mAh works out to 200 mA) will typically discharge according to the red curve, whereas a a 3 A = 3000 mA load (3C) will follow the purple curve. As you can see there's a reduction in capacity to about 85% by moving from a 0.2C to a 3C load.
What's more damning is the second order effect of voltage drops (about 0.5 V difference between the 0.2C load and the 3C load as can be seen in the graph), and since power = voltage x current, the battery will actually supply less power than the ratio between currents would indicate. Assuming the device employs an SMPS regulator rather than a linear regulator (and believe me, they do, no question about it), that requires drawing extra current from the battery to reach the desired power, leading in turn to even higher voltage and capacity drops.
It is clear to me that Apple severely underspecced the battery on the affected iPhones relative to the hardware power draw, in a way that didn't happen on earlier models, or on the iPad and MacBook Pro (can't say about other products that I don't own). Once the capacity started decreasing due to the natural aging and cycling of the battery, it crossed the threshold where it can't supply the required instantaneous power without excessive voltage drop, triggering some sort of hardware protection which shuts the phone down. They fixed it by limiting the power draw to what the battery can actually manage given the decreased capacity, but this shouldn't be necessary (at least not so early in the aging process) were the batteries better matched to the hardware power draw.
As an iPhone X owner who's still to see the battery drop below 50% (I charge it overnight every day) I have high hopes for the durability of this phone. First because a charge cycle (in my usage pattern) now lasts for two days rather than one as was usual for the previous generation, so it should take twice as long to reach a given number of charge cycles. Second, it's possible it will take a higher capacity drop before it starts throttling compared to the previous generation models.
Say the current iPhones start to throttle at 80% because this is when the battery starts being unable to supply the required power. Given the iPhone X battery is better matched to the hardware power draw, supplying the required power at 80% capacity should still be perfectly possible; it should only start to throttle when it reaches say 70 or maybe even 60% capacity. That's assuming they baked in some intelligence in the throttling fix, so that it looks e.g. at voltage drops for a given power draw, rather than relying on a hard capacity threshold to decide when to start throttling.
I wouldn't be too surprised to see a 5 year old iPhone X still performing fairly well, although of course the actual aging (in years not cycles) of the battery is also a factor, as well as environmental factors such as temperature (especially seeing as I get the feeling the iPhone X is hotter than older phones for similar tasks, but I may be wrong) so it's hard to predict.