Hi Yee Young,
mm-loss only specifies an i.i.d. random packet loss rate, and there are also congestion-induced losses for packets dropped by the link's queue. I am not sure why the loss turns out to be 0.24% exactly though. Maybe you could pass in an uplink queue of size slightly larger than BDP and see if you can reproduce it.
For the 800 Mbps trace, the reason is probably Mahimahi is not optimized for emulating high-speed links, and you would probably need 32 or 64 vCPUs to actually achieve the throughput. Otherwise, Mahimahi will drop packets when it is unable to catch up with the link speed, increasing the loss rate in your measurement. Hope this helps!
Best,
Francis