I don't now if this applies to saws, but older two stroke motorcycles could have reed valve float or flutter and stay open. Some were designed to float and stay open, less restriction, and they essentially became piston ported engines.
However, some were designed to rely on the reed valves to work properly, and when the reeds floated partly open, there could be a reversal of air pressure pulse or wave, such that some air actually went backwards through the carb a bit, then went forwards again. It was called 'triple fueling' because each pass it picked up some fuel. The riching of the mix brought the rpm down, just like in saw tuning. Sometimes there could be a standing vapor cloud at carb entrance if no air cleaner, or a lot of wet areas in air cleaner or filter.
So, does this saw depend on the reeds to work right? The reeds might be lowering crankcase compression, less transfer, and less rpm. Or, the richening of the mix might be limiting the rpm.
Like I said,I don't know if/how it might relate to your engine, but it's something to mull over.