To be exact about it, the mechanism question has a clean answer for the peripheral effects and a much less clean answer for the central ones, and it is worth being explicit about which of those you are asking about.
Receptor desensitisation as a plateau mechanism is plausible and poorly evidenced. GLP-1R internalises on agonist binding and recycles, and biased agonists that internalise less have been argued to sustain signalling better. Whether any of that operates at the timescale of a four-month clinical plateau — against the much simpler explanation that energy expenditure fell with mass — is not established.
Orforglipron is not a peptide at all, which changes everything downstream: it is orally bioavailable without an absorption enhancer, it has no fasting or water requirement of the same kind, it does not require cold chain, and it cannot be assayed by any of the peptide methods discussed elsewhere on this site.
The limitation here is that almost all of the human mechanistic work is in the licensed agents, so mechanistic claims about the investigational tri-agonists rest on animal and early-phase data.
Do not convert doses between agents. There is no exchange rate, and constructing one is how people arrive at an order-of-magnitude error.