O2 throttling of 'unlimited' broadband breaches Code of Practice?

From The Register: 'Just as it runs a high-profile advertising campaign boasting it is "nobbling broadband niggles", O2 has begun telling users of its "unlimited" broadband packages that they shouldn't download more than 10GB in a month. As noted today by ISPreview, O2 began writing to heavy users in March, prompting complaints on customer forums. It has now updated its traffic management page to reflect the new regime. "Most O2 customers use less than 10GB a month. Aim for that and you'll be okay... We don't set a limit on how much you can use each month. Most people use a different amount each month. But if we've asked you to cut back, it's because you're consistently above the monthly average." Huh?
Its traffic management systems for non-unbundled packages now also restrict P2P and newsgroup traffic to just 50Kbit/s at peak times - "typically the afternoon and evening".
As ElReg concludes: 'The doublespeak is exactly the type of broadband marketing guff that Ofcom's voluntary code of practice aims to restrict.' Quite.
O2 is owned by noted anti-net neutralists, Telefonica.