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The less noble metal is going to be the one to lose material. Aluminum is more noble than magnesium and that is why it is suggested for aluminum boats and motors. If an anode has the same noble potential as what is desired to be protected then no protection results. If what is desired to be protected has a lower noble potential than the anode you’ve got a really bad situation where the anode stays in great shape while what you want protected corrodes away.
I’m just shooting from the hip here but if an anode corrodes away fast in a salt water environment, salt water being a highly conductive electrolyte, it seems to me that it is offering good protection.
I see Feather Craft boats with anodes that are sixty plus years old and still look good. My guess is they are offering no protection.
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