That is about what I would expect.
No being familiar with Netgear but is there a possibility you have put it in "Bridge Mode" which means it just acts as a bridge between the Router and remote devices and does not switch locally?
Probably teaching you to suck eggs - but is DHCP off in the Netgear? Are all ports set for Gbit, Full Duplex?
Certainly if PC to PC gives say 250Mbit or above - there could be limitations on disk access which would slow the connection, then you can be confident that the NICs are in reasonable condition.
What if you power off everything, power up the Netgear, wait a minute or two, plug in te two PCs and boot them. What IP addresses do they get? Can they communicate and at what speed.
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