I assume it's in correctly because the card's working. It's just not as speedy as I expected. I did order the Sonnet box, so when that comes in I'll see if it makes any difference. If not, then the only other thing I can think of is that it's a problem with the mini itself.
I have a CalDigit dock connected by TB3 to my mini. The dock in turn is connected to an external drive and various peripherals. The dock is in Bus 1 and the Razer is in Bus 0; those are the only TB3 connections in the mini. I've tried flipping those connections, but it didn't seem to matter.