I realized that while I reduced the penalty for carrying heavy things, I did not reduce this penalty for when you equip a backpack.
All this to say, you will be able to move quicker with a full backpack after this patch.
Patch 037.7.1
Source: Steam Community (opens in a new tab)
Build and release context
Steam update times within 24 hours of this post. Matching dates do not confirm which build it describes.
Build 24952270 · public branch
Steam updated · First observed
Build 24952270 · betabuild branch
Steam updated · First observed