I have a couple of these bits, but they’re smaller diameter. I’d still expect it to cut straight away though.
The pitch on that snail looks pretty aggressive, like it’s actually meant for softwoods and the tip is more blunt than I’d expect from a brand new bit.
Perhaps the larger diameters are different but that snail shouldn’t be ground like that as you said. My versions are the typical geometry you’d expect, not ground at the sides.
In short, I’d send it back and exchange.