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Definitely properly switched to modem mode. I did use it in router mode a few months ago whilst my usual router was out of action so it is possible that some data is held over from there.
@TW I was having a call with them about renewing and when talking about broadband speed they said something along the lines of "I can see that you've got 35 devices connected so you won't want to drop your broadband speed".
I would guess that you don't have the modem mode fully switched on. When enabled the only device that can be connected would be your router as the WiFi and remaining Ethernet ports are switched off. If that is the case you can probably get a bit more performance out of it by checking and switching.