Increased heat when operating near the current limit is a symptom, not a cause. Adding a fan or a chonky heatsink to your iPhone wouldn't magically raise this limit.
A two year old lithium battery under normal use will hardly degrade at all. Any design that pushed the limits so far that a degredation of a few percent over promised and under delivered. In Apples case it could be remedied with a software update, but that doesn't mean the device held up to the original performance claims over a standard life cycle of device use.