The challenge is not only in reading the speed limit signs - but also in determining which signs actually apply to your lane/road.
On our local freeways, there are HOV lanes, main lanes, exit ramps and frontage roads - all adjacent with little spacing between them. When a speed limit sign is placed between these lanes, it's not always obvious to which lanes the speed limit applies.
The lack of standardization in speed limit signs and placement makes this even more challenging.
To workaround the Mobileye patent, Tesla has tried to use an offline speed limit database coupled with the average speed of Tesla vehicles on specific roads. Neither of these data sources are 100% reliable. When Tesla changed speed limit database providers, many roads had missing or incorrect speed limits - and that problem continues (especially in areas with current or recent construction). The fleet speed doesn't reflect the speed expected under the current conditions - which can change based on traffic, weather, ...
The Mobileye patent appears to be an example of a patent granted for an obvious feature (like swiping your finger on a smartphone screen), which unfortunately makes it difficult or impossible to implement a solution without using Mobileye's software or paying them royalties.
Tesla is running out of time to get this addressed - as they move closer to seeking FSD approval (at least in limited use), because it's unlikely any FSD system will be approved unless the manufacturer can guarantee the vehicle will obey traffic laws, including posted speed.
I suspect Tesla actually has this feature working - and Musk has been driving with it for a while - but without resolving the Mobileye patent, they can't deploy this feature for AP2/AP3 vehicles...