Joe states in the article “MSTVFs have a fixed cardinality guess of “100” in SQL Server 2014 and SQL Server 2016, and “1” for earlier versions. Interleaved execution will help workload performance issues that are due to these fixed cardinality estimates associated with multi-statement table valued functions.”
This is exactly what I saw where the below is just a basic screen shot of 1 of many tests that I carried out.
Read the whole thing for more details.