Taking into account both 21w06a's upwards/downwards expansion of 64 each and 12w07a's upward expansion of 128, the Nether uses a very outdated range for generation, which may be desirable to fix for consistency.
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Yup, they did say that: https://youtu.be/pDBf_IKEq3s?list=PLZHdY_46KnYvhiUi_0VtfqkerwSZbog1a&t=198
Can confirm.