That entire lineup (gen 1 through 3) I think cap at 65W, the rest of it is to power the other ports.
I had to pick up the new tb5 dock with a 265W power supply to support my newest thinkpad, I'm moving the other dock over to another bit of kit to support my older laptops (t480, x1 yoga, x13), but yeah its only 65W.
The rest is for devices. The USBC ports get a 30W allocation, the USB-A get 15W, the internal controllers another 15W, and the remaining 10W is for the video processing onboard.