What you are essential speaking of is a Bubble type Humidifier.

In a medical setting the DRY Oxygen bubbles through Water and the dry gas picks up water as vapor. If the Water is heated it saturates the dry Gas more.

You so called system depends on how much humidity the Air bubbling though it wants to absorb. That cannot be too much more than what you would have on an extremely humid day; so I doubt that it is really that much Water.
As the other member indicated you should be able to tell by measuring how much water is being used up per mile.

As long as the Water remains a Vapor it is not going to cause an issue with the Turbo Charger.

Also while the Crank Case Vent Oil mist is messy where it deposits what makes it into the Cylinders/Combustion Chamber is burned as Fuel and that helps a tiny bit with economy.

I forgot to mention that in a Medical setting the Humidifier is used because the Oxygen is Dry so as not to dry out the Patients Airways.
It is easy to assume that any sort of Spray/Injected Water System can easily put out more water than the type of system you suggest.

__________________
84 300D, 82 Volvo 244Gl Diesel