Oh yes, this can be quite confusing to an admin, it is to me.
Seems that using network bandwidth - as opposed to limits per guest - limits bandwidth on host & thus between the hosts while letting guests keep... full speed?

if this is how it is... supposed to be - this might fool many admins, it did fool me.
(this should be exclaimed in docs, even better in a man page - if @devel read this)

Is there a 
way to achieve this simple goal I'm trying to achieve - without going into each guest definition - single entry-point for bandwidth limit for guests using given network(& not cripple host "outside" networking)?

thanks, L.