It is confusing that the circuit ampacity is required to be greater than the charging current.
It is because the NEC uses the word ampacity for both the run of the circuit, and at the terminations. Say we switch to a different word for sizing conductors at terminations, call it termination size, so that ampacity just applies to the run of the circuit. Then the conductor sizing rules would be:
1) Ampacity must be at least the calculated load (no 125% factor for continuous use, ampacity is already a continuous rating).
2) Ampacity must be sufficient for the OCPD used (240.4, including 240.4(B) when applicable); so the OCPD sizing rule (125% of continuous load plus 100% of non-continuous load, unless the OCPD is 100% rated) makes an impact here.
3) Minimum termination size is based on the termination rating (60C or 75C) and the corresponding column of Table 310.16 (no adjustment or correction), which needs to be at least 125% of the continuous load plus 100% of the non-continuous load.
The latter part of (3) is a reflection of the product listing and testing standards. They specify a procedure for the size of wire used for doing the temperature rise tests. Then based on the observed terminal temperature, the termination may also require a higher temperature rated insulation than the termination rating. (See footnote 1 for an elaboration on this).
Then if 334.80 were phrased so as to limit circuit ampacity but not termination size, there would be no problem with the install discussed in the OP. And no problem in practice, as the install in the OP would perform fine, it's just not NEC compliant with the rules we have (which are not phrased as sharply as they could be).
Cheers, Wayne
Footnote 1: As a thought exercise, not how I imagine it happens in practice, the manufacturer could do the temperature rise tests with various size wires connected. First, try the 75C rating with the wire sized accordingly. If the terminal temperature does not exceed 75C (and always assuming other required temperature checks elsewhere in the appartus comply), then it can get a 75C rating. If the terminal temperature is between 76C and 90C, then it can get a 75C rating with minimum 90C insulation. If the terminal temperature exceeds 90C, no 75C rating allowed. Then try the 60C rating, and you can get a result of 60C rated; 60C rated with minimum 75C insulation; 60C rated with minimum 90C insulation; or a compelete failure, the manufacturer has to redesign the thermal behavior of their equipment. I expect all these tests are carried out at the maximum permissible installation ambient temperature the equipment specifies.