The can fills faster than it can gravity drain into pool. So, when the pool level is low in the can, you will see the fill tube go from heavy flow, quickly fill up can, then drain back down and then full flow will happen again. This happens in close cycles, repeatedly. You won't see this much, as the pool level would have to way low to make happen, and with autofill, it should not get very low.
As the pool level rises over time, the float cycles less and less range of motion, only partially opening each time. Briefly, you might catch it filling as fast as it drains and see a constant flow if the pool level is just right.
When the pool level is near topped off per setting of float, it will dribble fill. It can do that for days, weeks, etc..... just keeping up with evaporation.