I don't think it's a feel thing, I've been out racing (autox) long enough to tell.
My theory is that once you exceed threshold and the ABS kicks in it's equivalent to using less brake. For example, 101% of threshold is equivalent to 85% of threshold. Here 85% is just a number I picked. Once the ABS kicks in under freezing rain with bold tires, you just cannot recover the grip quickly. Assuming 85% is the right level, better to aim at 90% of threshold and not be punished for a mistake than to aim for 98% and have the ABS kick in when you're wrong. In the dry the 85% figures is a lot higher. In my autox conditions I wouldn't be surprised if it was less than 85%. The grip was so poor you had to be careful with the gas on the straights.
But I wonder if there's more to it than than. Conditions across the contact patches are not homogenous. With four wheels on the ground you average grip over all four tires. With just two wheels the average occurs over 1/2 the surface area and if you hit a bad spot one of the wheels will lose grip abruptly and after the other wheel. Yes, all right, with weight transfer is more than 2 wheels but I hope you see what I mean. I remember in the days of my air cooled VW using engine braking on black ice to get the best result of control and braking. So a bit of AWD reasoning applied to braking.
I can't wait for the next time it rains to go out and try a few things out. I'll bring a watch too.
BTW, I'm not very impressed with the 968's ABS. In the days of my 944 w/o ABS my braking skills were better due to necessity, now I get lazy at times.