Due to the rapid growth in slow start we get double or triple loss on slow start exit. There have been some more discussions on it in #3112 (comment). See also the below slide deck from @mwelzl:
https://datatracker.ietf.org/meeting/120/materials/slides-120-iccrg-ssthresh-after-slow-start-overshoot-01.pdf
I did some brief experimentation on the simulator with a 10 MIB upload on 50 MBIT bandwidth and 40ms latency.
using current Cubic factor (reducing by 0.7 on loss): 25.48 Mb/s
using Reno factor (reducing by 0.5 on loss): 23.00 Mb/s
- double loss, but more inefficient than Cubic
reducing by 0.4 on loss: 35.32 Mb/s
- just one loss and much better throughput!
I reckon this will still be somewhat relevant even if we switch to heuristic based slow start at some point, because heuristics can fail in which case we'd still have slow start exit on loss and might see the same effect.