AFAIK yes, you must still protect the panelboard in accordance with 408.36.I think we need to clarify if/when we are talking about feeder ampacity vs feeder OCPD. But if there is a motor panelboard supplied by a motor feeder, wouldnt 408.36 prohibit us from using a larger than ampacity feeder OCPD?
Edit: 430.62(B). apparently there is no allowance for a larger than ampacity OCPD for a motor feeder like there is for motor branch circuits.
You could have a feeder with the permitted higher OCPD and then make up feeder taps to each motor circuit