It uses nominal as a good indicator. Of course you will go faster in full charge but I wouldn’t be worried. Nominal voltage will be closest to your average voltage throughout the cycle. Not to mention voltage sag
Check out discharge graphs for pretty much any cell. You’ll see that with even smaller current draw, the cell instantly sags a fair bit lower than 4.2v/cell. Nominal is a better measure of speed even at full charge.
They’re not wrong. They are a simple guess. And they are a pretty good one at that.
The efficiency parameter is just a fudge factor. We use these kinds of scaling factors in engineering all the time. Is it 100% accurate? Absolutely not. But it works
When I was designing my board, I derived my own calculator similar to what you see online. However I mistakenly used full 4.2V voltage and my calculations were way off. Using nominal voltage with a 80% efficiency provides a much better estimate. You can go ahead and use 4.2V, but you will be wrong, just like I was