how does metered work

scheduledmetered.scala

//> using lib "co.fs2::fs2-core:3.4.0"
//> using lib "org.typelevel::cats-effect:3.4.4"

/** Toy example with with metered stream. What happens if a stream element takes longer than metering?
  */
import fs2.Stream
import cats.effect.IO
import cats.effect.IOApp
import scala.concurrent.duration._
import cats.effect.kernel.Ref

object Scheduled extends IOApp.Simple {
  val theRefThing: IO[Ref[IO, Int]] = Ref[IO].of(1)

  def scheduledUpdate(ref: Ref[IO, Int]): Stream[IO, Unit] = {
    val prog = ref
      .updateAndGet(int => int + 1)
      .flatMap(int => IO.println(s"updated the ref to $int") *> IO.sleep(4.seconds))
    Stream.repeatEval(prog).metered(2.second)
  }

  def printRefThing(ref: Ref[IO, Int]): Stream[IO, Unit] = {
    val prog = ref.get
      .flatMap(int => IO.println(s"the current ref value is ${int}"))
    Stream.repeatEval(prog).metered(1.second)
  }

  def run: IO[Unit] = theRefThing.flatMap(ref =>
    printRefThing(ref)
      .concurrently(scheduledUpdate(ref))
      .interruptAfter(13.seconds)
      .compile
      .drain
  )
}