This falls under "trust but verify". I do like that the systems can keep track of conditions and give you an alert when it calculates an oil change is required and ongoing remaining oil life calculation.
I still check the level and color of the oil on the dipstick.
I changed my oil at 8% oil life last time which was around 8,000 miles from the previous oil change. The oil level was fine and the color darker than when 1st changed but not bad.
On the other hand I have heard of the oil monitor system in other cars going bad and saying it should be changed after 1,000 miles or never requiring a change. I don't know what sensors it uses or programming factors to determine oil life.
On the vehicles I had this system, with me checking it's accuracy, they have been very good.
I'm going with the guy on the F150 forum who had 360,000 miles on his 3.5L ecoboost, the last time i checked, and change my oil every 5k. He also changed spark plugs every 50,000 miles. He used his truck to tow often and had no major issues. This is after seeing some videos and articles from various mechanics and engineers on how turbo direct injection gasoline motors work. Basically clean lubricating oil is essential to the turbos longevity.