For how frequently sulfite is used, there's a surprising lack of information available about how to use it. I think that's why most of us just wing it.
I'll try to explain what I know.
First, consider that sulfite products have a shelf life and degrade over time, especially with more oxygen exposure, so you might not be adding as much as you think you're adding.
To complicate matters, also remember that yeast produce sulfite during fermentation, varying by strain and possibly other variables. For example some wine strains allegedly may finish with up to 30ppm of sulfite in the wine.
Then, when you add metabisulfite to a liquid it reacts with oxygen. 1ppm dissolved oxygen (DO) neutralizes (oxidizes to sulfate) approximately 5ppm of the metabisulfite. If you aerated the heck out of it, it may contain up to 8ppm DO, neutralizing about 40ppm of the metabisulfite pretty much immediately.
After that, some of the resulting sulfite binds to various organic compounds (e.g. aldehydes) in the wine/must. Exactly how much binds is impossible to predict; I see figures ranging from 30-70%. (Why that's expressed as a percentage doesn't seem to make sense given that there's a finite amount of binding sites, so I don't even trust those widely variable numbers to be accurate.)
I hypothesize that binding capacity in wine is negligible because of sulfite produced during fermentation, but I have no data to support that.
Any remaining (unbound) sulfite is considered "free SO2", which is supposedly what protects the wine from oxidation since it's available to react with oxygen.
The bound sulfite may also be helping prevent oxidation to some degree.
In acidic aqueous media (e.g. wine), sulfite exists in equilibrium with molecular SO2. The percentage of molecular SO2 depends on the pH. You posted the chart above, I use a
sulfite calculator.
Molecular SO2 is responsible for anti-microbial activity and supposedly is also what can cause off-flavor/aroma in the concentration I mentioned. Burnt match.
Allegedly 0.4ppm molecular SO2 starts to significantly inhibit bacteria/wild yeast and 0.8ppm greatly inhibits or kills the wild microbes and can start to affect Sacc. Sulfite tolerance varies by species and strain.
To know how much metabisulfite can be safely added to stabilize, you need to either know or assume that none of it will bind, or pick an arbitrary amount. Then after measuring pH you can calculate how much metabisulfite is needed to hit the target molecular SO2.
Edit: Of course, you can measure the free sulfite to a variable degree of accuracy and then calculate how much of that is molecular SO2.
To further complicate matters, bottling and aging both introduced oxygen, which will lower the amount of free sulfite.
Also FYI potassium and sodium metabisulfite are not interchangable since they provide different levels of sulfite by weight.
Campden is designed to provide 50ppm total sulfite at a rate of 1 tab per imperial gallon, or about 65ppm for 1 tab per US gallon.
Welcome to the crazy mixed up world of sulfite.