I'm thinking fuel pressure drop. Since the throttle body movement does not increase the RPM, then it must be limited by the fuel volume/pressure. Possibly the fuel pressure regulator or the fuel pump not getting a correct signal for the two speed. Possibly a dirty sock or filter. Although the fuel problem would be RPM based or distance based, if it reaches its limit, it may limit the response.
Jonheld: Brain storming: Is there a vacuum line that if it came off or moved and leaked, it would limit fuel pressure? Fuel pressure regulator? My first thought was the TPS, but the mechanical movement should override it. What if the throttle lever was slipping on the shaft of the throttle butterfly? Remove the intake hose and observe the movement of the butterfly with the throttle cable movement? Detached throttle cable? It would move with the pedal movement, but may not actuate the butterfly.
OK: Shoot holes in my thought process....