you just sent me a video with the bypass open that doesn't recirculat it in the pump it dumps it out the discharge, so you'll never get 2000 psi that rating is the pump pressure against against a closed valve, all TM's are the same the set pressure is not the same reading when you open a valve or trigger on the wand it drops a bit, as for discharge from the hose that again is because the bypass valves is open thats were it goes to. it should be shut on cleaning carpets the maker only says to open a little when cleaning upholstery, and theres a bypass on the carpet wand for when you in house and not working.
looks like its working ok, the exhaust moisture happens on start up if its cold its condensation, cars do it as well.