Ok, I now realize I should have put more emphasis on this -
I am backing up to a cloud based S3 object repository (specifically Backblaze). I found what I needed to understand in another old thread - that I can use a remote offsite proxy to do the initial seed of the S3 repository and then move/reconnect that repository back to the onsite Veeam proxy later, eliminating the remote proxy. The only annoyance is that I'll need to re-create the backup jobs, but not the data backing them.
I wish this information was clearer in the actual User Guide for VBO - it would have saved me a lot of time...
veeam-backup-for-office-365-f47/vbo365- ... 68766.html
https://www.veeam.com/kb2649
There are two key reasons for doing this -
1. The temporary remote proxies have no bandwidth caps, while onsite we have to cap at 25Mbps during daytime hours and 150Mbps off hours
2. The temporary remote proxies can be allocated significantly greater resources to help with initial backup.
I now have two remote proxies, one handling mailboxes and one handling SharePoint/OneDrive. Seems to be doing a bit better with 8 cores, 32GB RAM each. They also have 1Gbps fiber uplinks. Using 20 backup accounts on mixed modern/legacy. So at least there is probably no limitation on my end.
The upload is still going a bit slower than I hoped but it is doing better than the onsite performance I was seeing before. Getting about 60Mbps overall. I passed the newest logs to support (Case #04761017) to see if there is anything else I can do.