oh, 100% this. i've seen the exact same pattern more times than i care to count. someone slashes the budget because the client panics, ROAS spikes for a couple of days because the algorithm is feeding off the last strong data... and then it all just crumbles once the learning phase resets and the delivery gets throttled.
it's almost like the platforms punish you for reacting emotionally. anyone else notice that the opposite move - raising spend when things are shaky - can sometimes stabilise performance? Or is that just me trying to justify bigger media plans?