Yeah I think you may be talking about the current draw influencing in a li-ion capacity. When discharged at a lower rate (lower current), the battery lasts longer.
With the DC/DC converters we use, assuming we would need uh, 20W from a li-ion, that would make sense.
Assuming 100% efficiency
4.2V = ~4.76A drain
8.4V = ~2.38A drain
16,8V = ~1.19A drain
So we know that if you drain 5A from a crap 18650 it won't last long. Its life and capacity is severely lowered in some cases.
Anyways multiple (2 in this case) 16340 cells are better for high drain applications IMO. BUT a single (in this case) 18650 is better for size, capacity, at lower drain.
(Heck, if you're draining 20W from batts, you should just build a 3x or 4x 18650 host)