Let's see if I got this right .. The output percentage is a function of time. The output of the SWG is always the same, it's time that's regulated by changing the output percentage.
Correct. What trips up some folks is the notion of the percentage. When you set an SWG to 20%, it doesn't dial itself down to producing 1/5 of the chlorine it would at its 100% setting. An SWG produces 100% of the chlorine it can while its "on." When it's dialed down to 20%, its "on" 20% of the time, so it produces all the chlorine it can for 20% of the time. Mine has a five minute cycle. At its 20% setting, it's "on" for 1 minute, then "off" for four minutes. That repeats for its entire runtime schedule... every five minutes. For a 50% setting, it would be "on" for 2-1/2 minutes, then "off" for 2-1/2 minutes, etc.
My SWG has a green LED light that indicates when it is producing chlorine ("on") and when it is not ("off"). Other brands probably have some similar indicator.
So you'd use the output setting percentage to calculate how many years you might expect to get out of your SWG. But as
@Newdude points out, most of us adjust either our SWG runtime or its output setting several times throughout the year. Me: Off in the winter, 40-50% in the spring and fall, 60-70% in the summer. Which complicates the math, compounded by the weather: I started using my SWG late this year, and its settings have been lower than usual, due to our colder than usual temperatures. User load affects chlorine, too, so if the kids move away, or have a bunch of kids of their own that won't stay out of your pool, you've got more math to do.
You'll never get better than an approximation of actual lifespan, because there are so many variables. And then sometimes they just up and die on you for no good reason. Sometimes in warranty, usually not, so even an approximation can be way off.