I think when people resize images, most of the time they don’t want to change the ratio, nor crop the image. The current behavior of Logseq is a bit awkward IMO.
Indeed ratio is locked now. That said, the behavior when resizing is weird, it seems as if it cropped the image. But try entering edit mode for the block and checking the actual height and weight attributes. Them, exit edit mode to force re-rendering of the image and you will see that it has been proportionally scaled.