To clarify, The Agnostic handles lowering the drain when total life lost per second is lower than 20% of your mana. It does not and cannot account for any other sources of life recovery that are also countering some of that life loss, only not countering more itself than there is. I.E if you are losing life equal to 10% of max mana per second, then Agnostic will only drain 10% mana per second, not 20%, because that's enough that it counters all the life loss. This calculation can only account for The Agnostic, and is independant of other sources of life recovery.
From a mechanical perspective, the Agnostic cannot possibly know whether your total life recovery is outpacing total life loss per second, because the value of total life recovery cannot be known until after The Agnostic has calculated how much life recovery it's providing - it's a part of that value, so inhernetly has to be an earlier step - so the more direct answer to the question in the OP title is "because the Agnostic has to have worked out how much life to apply before total recovery can be used to determine whether you count as on full life or not".