That is not how it works. If it did you would not need a dual chamber MC. The distribution block is what Chrysler calls it. It ports the MC output to the various brake lines. After 67 federally dual chamber mc were required. The distribution block has a valve with orings on it that can move off center to the lower pressure. When it does it contacts the sending unit and provides a ground for the brake light indicating a problem. Which ever side lost pressure continues to loose pressure and you have no brakes for that system. The other system has full pressure. So you may loose rear brakes or you may loose front. But you don't loose both. Internally the MC has two pistons and if one collapse because of fluid loose it has stop built into the piston and ultimately stops moving. The other piston is isolated but connected. It can continue to move and build pressure.
The proportioning valve actually acts normally with pressure in front and rear the same until a preset pressure. Usually around 250-300psi, at that point it act as an orifice/relief and pressure rises at 50% of the input pressure. So lets say 300 psi set point, if line pressure is 600psi that is what front sees. The rear sees 300 plus 50% of the last 300, so 450psi. Front goes to 900 psi rear goes to 600psi. Meter valve for KH just holds off pressure on the front to allow the rear to start engaging. Again at a preset pressure for the system. Bendix on b bodies before 69 did not use the Hold off/Meter valve. 70 KH for the B/E did.
Read the 70 service manual in chapter 5. Does a good job explaining. Then read the Master training on brakes (can find on web) and you will fully understand the system.
View attachment 1325762