It’s playing that fast because my monitor’s refresh rate is 144 Hz. If I decrease my refresh rate, it returns to normal. I’m guessing the inverse is also true, in that if I had a slow monitor at 30 Hz, animations would play at half the speed they normally do.
This happens on Chrome/Firefox, but not Internet Explorer (presumably because IE isn’t smart enough to refresh at anything other than 60Hz). This affects not just animation playback speed, but the speed at which avatars rotate in the 3D preview as well.
Expected behavior is that animation playback and avatar rotate speeds are always the same, regardless of monitor refresh rate.