Please explain to me how this device uses PWM to limit current

The point is that you can not remember brightness so it will be hard to tell subjectively.
But if you want to know how how bright it will be in 3 years.
You can't run it for three years so what you do is to measure changes over a week and take the results and extrapolate them to three years.
So what seems to work can be a disappointment over time.