In order to avoid the frame we need to cap the max size to 127px (or actually 52px to make the icon have the same size of native mime-icons).
This approach, however, has the drawback of affecting the image quality. I don't know if there's any other alternative, since the "framing" seems to be hardcoded:
https://github.com/linuxmint/nemo/blob/7fe83632eca5801a55992dc08c52767b6d8685cb/libnemo-private/nemo-file.c#L4817-L4820
Therefore, for now I will mark this issue as "wontfix".