Unfortunately, there are too many who do not do this, even among the biggest computer vendors.
Unfortunately it's not true.
Quiz: what happens when a device capable of 20Gbps is plugged into a port marked as 40Gbps?
Because if not then it's the same as any specification for connecting devices that allows for multiple speeds. It runs at the lowest of the max speeds supported of everything in the chain.
It will not.
Consumers would expect plugging a 20Gbps device into a 40Gbps port should result in 20Gbps negotiated speed. In reality it will mostly likely end up at 10Gbps (or less) because of the mess.
Newer Thunderbolt/USB 4 devices do not have any technical reason for preventing them to work as USB 3.2 2x2, i.e. to work at 20 Gb/s when plugged into a 20 Gb/s host port, and vice-versa for 20 Gb/s devices plugged into a USB 4/Thunderbolt host port, because both Thunderbolt and 20 Gb/s USB need the same wires in the cable and connector.
I do not know if all USB 4 controllers also work at 20 Gb/s (USB 3.2 2x2), but if they do not work that should be considered a bug.