the start of the dive on the discharge curve

when it starts to tank in output , different cell types will take that dive earlier or later than thier differentally build counterparts.
a battery with heavy plates and fast discharge capability will tank sharper on a graph than a slower battery. so high discharge batts will be more depleated when they (finnaly) droop in voltages. (higher discharge batteries dont droop in voltage as much with similar loads on both)
any high drain devices will slam a smaller battery so hard the voltage will tank when it reaches this location, so the protection kicks in earlier.
a Very slow drain on same said battery (like say low PWM rates or direct drive slowdowns) by the time the battery reaches any protection level of 2.5 the battery will be discharged MUCH further.
so your underLOAD voltage will depend on the battery and the load, and all the HUMAN has to remember is "Before the cells capacity is gone" so to speak.
EX: a 5mm white led put on a li-ion and allowed to droop to nothing will have completly drained the cell (~2.3-2.4v) with no bounceback.
a 1c load from a Boosting driver pushing the battery current up as the battery is depleated in voltage will reach a low voltage point much faster.
if your talking the RESTING voltage, then ALL of those would be concidered to low and in dire need of recharging.
To put ONE number on a the Voltage location for stopping a load, would not take Actual remaining capacity into account.
a perfect stop alogrythm in, would be at a Percentage of
actual remaining capacity instead (that being neer impossible).
i point that out only because people want some NUMBER a definable location, and a specific voltage number is not what is needed, plate seed, or chemicals in place or whatever they want to call it is what is needed, and no specific voltage number can define that for every occurance.
if there was a visual voltage representation it is when the voltage starts to take a dive, aka some parts of the chemical conversion processes are completed.
so in general flashlight use with protected cells, when your draining the cell rapidly the average 2.4 2.5 2.7v protection will work ok, but if your doing the slow low drain thing, then YOU Certannly NEED to stop before you drain the thing so far it cant re-charge fully later.
if your making a driver or protection with a cutoff built in, then more than ONE voltage cut-off point could be usefull, but then tiny little brains only have so many lines of code , leaving big human brains available to compensate
if you had more than one voltage point in a driver cut-off , with normal discharge batts ,it would be:
higher when the load is smaller (like cutting off at 3.2v or higher even)
Lower when the load is larger (like cutting off at 2.5v when load is 1c)
so your devices cuts off when it reaches the "about empty" location.