As long as the system doesn't need topped up regularly then the inhibitor concentration will stay stable for a good while. As the system is sealed the the only way the concentration can really be diluted is by adding in fresh water. The chemicals can break down over time reducing its effectiveness. Some say top up every year, some say whenever the system needs topped up, the only really way to know is to test the system.
The inhibitor is also PH neutral and conditions the system, up to a certain point of dilution, though once it's past that point then depending on whether the system goes acidic or alkaline can then determine what corrodes , alkaline systems are bad news for aluminium, acidic for both aluminium/copper/steel/etc. A system high in dissolved O2 without inhibitor will increase corrosion in the mild steel rads and promote sludge, so always best to keep a check on it.
Some say there can never be too much inhibitor but there is more and more evidence coming out where too high a concentration can have an adverse effect on certain plastics, which some systems are containing more and more of, pump issues and a lot of mag filters are made of.