FT-8 does not have a 100% duty cycle. FT8 is 12.6 seconds transmit and 17.4 sec receive, which equates to a 42% duty cycle.
Yes and no. FT8 is 100 per cent while it is transmitting. You could make the same argument about RTTY and AM, but if you look at enough rig specs, you'll see that most recommend reductions in power for those modes. FT8 is like those modes. Every radio has engineered its own decisions about heat dissipation and how much heat sink, fan, and so on to have.
SSB and CW have what amounts to power reductions
even while transmitting and this makes a difference versus things like RTTY, FM, AM, . . . and FT8.