Well that's half the problem. The graph "looks" better yet between the left and right sides of the graph performance decreases by 75%.
Still, studentville, this happens every holiday season. Everyone moves out and over a weekend suddenly my speed triples.
I'm got a feeling that VM's excuse is that load average over the whole year is "reasonable" so area isn't congested... That said the last tech I had come by admitted 90% of the capacity was in use 90% of the time.
But as an example of the students on holiday symptom, last Sunday:
Sunday two weeks ago:
(Term ends 27th May)
Sunday three weeks ago:
Sunday in the middle of term (Feb):

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And if we look back to January,
Sunday 9th:
Term starts Monday 10th
By the next Sunday (16th):