It literally can't work this way.
If cruise "held" a position that had nothing to do with speed, then when you went downhill, you'd speed up, and the vehicle would ignore this. If it holds a position, it also means you couldn't reduce the throttle position as it would ratchet up as you gave it more throttle. And there is no correct position for a given speed, as it depends on hills, winds, weight, etc. The car doesn't even have a throttle pedal position sensor in your explained case, so it's impossible to determine what is going on.
Yes, it DID literally work this way. The throttle got pulled tight and you were able to remove foot W/O a jerky feeling in the car. The cruise control was connected to the carb throttle at the same axis point as the cable from the foot pedal and they did a relatively smooth transfer. For hills and the like, to PID controller would release the cable abit as speed up. If you were still on the gas, of course you wouldn't slow down under car control.
I remember an add-on cruise system that was connected in series with the speedometer cable to get speed and a vaccum line to have 'power' and had a cable you connected to where the foot cable connected to the carb. The car year was 1974.
So, you turned on the cruise and slowly release the foot pedal to slow a bit (say 1-2mph, slowly) The cruise would pull it's cable tight until the car started to accel to the set point. At this point the PID loop in the controller would have enough integral gain to maintain this location, and the gains were tuned such that the speed back up of 1-2 MPH was not harsh.
You could very lightly rest your foot on the petal and feel the pedal go lower as the car went up hills and the cruise opened the throttle.
'Throttle by wire' cars, like the Volt have a smooth transfer from driver to car speed control. The Tesla is also 'throttle-by-wire' and is not smooth on that transfer. I contend it could be.
1. Car knows torque level when engage cruise, latch level.
2. Turn Cruise on,
a. disable regenerative braking from throttle position temporarily during this transition.
b. as long as pedal RELEASED over say next 2 seconds AND car required torque doesn't decrease, hold torque as release foot.
b1. If torque demand increases, add torque even at same throttle level automatically.
This allows smooth removal of foot.