minecraft:movement component does not work on players

Partner Rank:
3

Partner Team Reporting:
Entity Builds

Verification builds:
1.16.20.53 - 4386174

1.16.100.50 - 4459742

Summary:
Modifying the value of the minecraft:movement component has no effect on the player's speed

Impact:
This bug prevents creators from changing the default movement speed of players without applying the speed effect with commands on a loop.

Repro Steps:

1. Create a behavior pack which modifies the player behavior
2. Change the value of the minecraft:movement component
3. Apply the pack to a world and enter the world

Observed Results:
The player's speed remains the same

Expected Results:
The player's speed should change correctly based on the value specified in the movement component

Screenshots/Videos attached:
No

Regression Builds:
This has always been an issue

Notes:
I've attached a behavior pack that helps reproduce the issue