0% isnt a distance, so it wont 'distance match' to some point on the screen. The matching points won't be a ring either, but a single point at each pole.
0% scales the sensitivity by the things that actually change, such as zoom and curvature, so it preserves your sensitivity and it's just the curvature of the image that makes it behave differently.
Pretend you are at the center of a sphere. You can think of 2D as 0 fov, an infinitely zoomed in, infinitely flat portion of a sphere is on your screen. As you raise the fov, you zoom out, revealing more of the sphere. The physical size of the sphere reduces as you zoom out, and the curvature within the physical space that is your monitor increases. This change in zoom and curvature is what 0% is scaling the sensitivity by.
You traverse a pretty flat image at low fovs, and a highly curved image at high fovs. Then you also have the size of the sphere changing, so low fovs require long distances and high fov require short distances to rotate 360 degrees. No matter what, it will always be a different experience at different fovs. 0% will properly scale the sensitivity itself, but you still have these factors changing the experience. This is where you try other match % to try and make it feel more comfortable, but I wouldn't decide what % to use based on some distance rule as the distance thing has pretty much no benefits.