The factory PCM Controlled Electronic BOV is throttled to limit boost.BOV has no relation to the amount of boost you're at. That's the WG's job.
It may not be designed that way, but it does work that way.I doubt it's designed to bleed pressure and limit boost like you're suggesting. It vents at cruising speeds to keep the turbo RPMs a little higher to help with spool though. Not being an ass in any way ;)