The comment here
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// Have to ensure that either the new fee cap or tip is higher than the |
says that increasing either the fee cap or the tip cap by the threshold is enough to accept the replacement. However, the code actually requires both be increased by the threshold, as either half of the if statement passing will lead to the return false, and the transaction being rejected for being an underpriced replacement.
I'm not sure if the comment or code is correct here, but one should definitely be updated so they're in sync. It seems to me like accepting a replacement tx which increases the tip by 15% but doesn't change the fee cap much (as the base fee is the largest part of the fee cap) makes sense, and the current code wouldn't accept many replacement transactions.