I'm pretty sure it's that fast because it actually needs to be that fast in order to be able to land a Bair or even combo from it in general. Before, all you could do with Utilt was a another Utilt and maybe a Bair. The issue was, people could get out of hitstun before the next hit (Bair) would happen, meaning the Utilt was too laggy to combo anything from it but another Utilt. You can ask the Falco mains and leafgreen386 about it, the move could only effectively combo into itself at least once, not even twice.
The reason it is 2x is because I believe that's where leaf calculated it has to be in order to combo from it before hitstun ends.