I *think* I figured out why it was oscillating so much.
At a tickrate of 60, my server was ticking sporadically because performance is not refined yet. I started to count how many ticks occur in an Update() loop in Unity, and it would bounce between 1-4 frequently. This means that the game client has to continually change its guessing.
I dropped the tickrate to 30, my server is currently running around 40FPS anyway, and now I get a much more stable guess at the server's tickrate. The delta is closer to 2 after the game client connects and syncs up a bit.
I'll have to ramp up the tickrate when I get better performance.