Hi SSAS,
Is there maybe some traffic shaping in effect that is configured on your MX? A low download like that seems weird, especially because your upload is 900+ Mbps.
What does the uplink configuration under Security & SD-WAN in SD-WAN & traffic shaping say?
What kind of SFP module are you using? Can you tell us the module name? I haven't seen a 2 gig SFP from Meraki.
I run a MX105 and I can get to 1 Gbit/s up and download without any issues with IPS enabled. Probably more would be possible too, but my uplink is just 1 Gig.
Since when are you running into this issue? Was there a firmware update and it started afterwards? Were there config changes somewhere in the network?
Also if the MX is having a hardware bottleneck that should be visible under Organization -> Summary Report and then select the Appliance network. The utilization will be visible in the bottom left corner.
Otherwise support will be able to tell if there is a hardware bottleneck. They have access to more data about the appliance.