Thank you all again for the replies - I think I have a much better understanding of it now.
@mikerj: thank you! Gosh I don't know how I missed that ha ha

Makes much better sense now.
@imo: the pullup are weak internal pullups in one of the I2C slave ICs (value is not mentioned).
There are no capacitors on the bus lines, so I would estimate bus capacitance C=15pF. So by measuring tau=RC=750ns (63% of the rise time) , I get R=50k, which also fits what you would expect from a "weak pullup".
Now before everybody starts bashing me, let me explain my trail of thoughts: I really do not need fast speed, and I would rather be on the safe side of EMC.
I heard 4.7k external pullup is standard'ish, but also that one should add a 100pF capacitor to "slow it down". That would give tau=RC=470ns.
So I thought why not saving PCB traces, space, and two resistors and two capacitors by simply using the weak internal pullups? This would give the same result anyways, and lower currents
Now you may bash - I'm ready
