One estimate of the average max HR for a given age is 220-age. This is not your own max HR, it’s the average max HR, and there are slightly better formulae than 220-age, but it is a start. And we can note that if your HR on this ride topped out at 212, your actual max HR is probably higher. An average of 175 is also seemingly high. So those values seem a bit unlikely. But you could just have a high heart rate!
However, as already said, heart rates are a very individual thing. I assume this is your first HRM, so you have no baseline. One thing you can do is warm up, take your pulse manually, then maybe do an interval and take your pulse again. Compare it to the HRM readings. Or borrow a friend’s smartwatch.
In general, I warm up for my threshold intervals. Actually, I always warm up, and most people should probably warm up rather than jump right into a hard 20 min effort. Perhaps you are young and you can get away with this for now, though! The ramp up from your starting HR seems fast, but my HR pretty quickly rises and stabilizes during my threshold or sweet spot intervals. Here is one example session. Of course, and not to rub this in, but I was starting each interval from a warmed up state.
In general, HRMs are an established technology. Magene is a mainland China brand with some credibility. It’s likely that Magenes in general aren’t bad. It’s possible you got a dud, or something is interfering with the wireless signal. Wahoo's TICKRs have seemingly (from anecdotal reports from forums I'm on) had a number of duds. Polar is generally regarded well, but I heard one person report they had a dud from this company.