Double VPN'd?

[RonRN18]

This question is mostly a curiosity question.

I have installed the WireGuard package and setup my tunnel and a "road-warrior" peer for my laptop computer (for when outside of the home). Everything is great and working awesome.

When I am at work, like I am at this moment, I tether my laptop to my iPhone 11 Pro Max for Internet access. I have found that using a USB-C to Apple Lightning cable is much more stable than WiFi for tethering, plus it keeps my iPhone battery topped off. Anyway, I decided to create a second peer for the iPhone itself. I configured it and thankfully it worked beautifully. My iPhone now reports my home IP address as its public IP address. Yeah.

So, everything appears to be functioning perfectly... but I have a nagging thought. Am I creating a tunnel through a tunnel by tethering my laptop through my VPN'd phone? If so, is that a bad thing?
ADDENDUM
I just looked up my WireGuard Peers list and it appears that the Endpoint IP address is different for the laptop and the iPhone. They appear to be from the same AT&T cellular sub-net... both starting off with 166.137.149 but the last set is different. This makes me think that they isolate the phone's IP from devices tethered.

Also, just for the fun of it, I ran a speedtest from my laptop to a LibreSpeed server I configured on my home network. I had a ping time of 39.0 ms, jitter of 5.25 ms, download speed of 151 Mbps and upload of 7.63 Mbps. Not too bad, considering this is going through my WireGuard VPN via my cellular phone over LTE. Thankfully, I have FirstNet as my service provider, which gives me unlimited usage and never throttles, unlike their normal consumer-side (AT&T).