The average velocity is that but that's not the true velocity of the rod. As it's passed from person to person it has to briefly stop then the person swings it to the next person in line. Through the Power of Almighty RAW this happens as fast as is required for it to take place in one round but the peasant can only move it that fast to pass it. When thrown the strength abandons them and it's just a peasant throwing a pole; d20+Dex to hit 1d4 on hit 20/60 range(improvised weapon rule).