A 24 bit/192 kHz 2 channel track should stream at ~9216 kbps. I assume this screen shot is from iTunes and that the bitrate which it shows is incorrect.
What kind of bitrate/quality do you get when you play them from the iCloud Music Library? Is it better than the standard 256 kbps?
Or is your point that it is now matching your high-res files, albeit at the usual low quality?