In regards to perm mag (magneto) charging systems, if it is SHUNT type rec/reg, yes!! you're quite correct but, this is pretty old school though. Not really done so much anymore..See old mercrusier perm mag water cooled rec/reg stuff.
However with PHASE CONTROLLED type rec/reg's (used by Merc, Yamaha, Honda, Polaris, etc, etc ), this is not true. With phase controlled rec/reg (1 or 3 phase), the perm mag output is only electronically connected (thyristor/FET) to the load (battery etc) on a phase by phase basis(quite similar to squirrel house heater controllers....lol, funny that!!). With the addition of a battery (and feedback) now connected through this type of rec/reg, this integrates to a smooth varying regulated DC output dependent on load, no shunt needed., thus no real appreciable heat.
CDI has always touted themselves as some sorta Masyiah of all things stator, switchbox and rec/reg (and even DVA meters) but, IMHO is no more then a reverse engineering over priced Pariah. Here again, they've merely copied(re-branded) what has been being done for many many years ahead of them but, claim(imply) they have some new magic YOU need and can only get from THEM!! Not even close........