Being obsolete depends on both your opponent and the mission you are doing.
Against the Germans and the 109E the MK I Hurricane was obsolete. The MK II might have kept it in the game a bit longer if the Germans hadn't introduced the 109F. Shuffled off to fight the Italians with their CR 42s, G-50s and MC200s it was not obsolete in that theater until the Italians developed better planes (got German engines) and the Germans showed up.
In the Far east it is certainly debatable if it was obsolete or if the crappy training and tactics doomed the Hurricane pilots. Bravery only takes you so far. Green pilots using crappy tactics are in a lot of trouble no matter what plane they are flying even when showing out of the ordinary courage.
Once the Hurricane switches to bomb carrier it has assumed a new role and has to be evaluated in that role, it is still obsolete as a fighter but is a whole lot more survivable than using Blenheim bombers to attack the same targets. Neither the Hurricane II or the Blenheim are much good against the FW 190 in a dog fight
I think you are confusing two things. the 19:1 ratio is false but it was
supposed to be the kill to loss ratio. Obviously this can be changed/affected by inflated claims (and.or not counting certain losses?) but the basic way of counting/figuring it makes a certain amount of sense. Our plane shot down 75 enemy airplanes in air to air combat and we lost 25 in air to air combat so we have a 3:1 victory ratio. Number of missions is left out and operational losses are left out but one might assume that if the number of missions changes a lot but both "our" plane and the enemy planes stay at roughly the same performance the victory ratio will stay the same, even if the totals change.
You are right, it is often misapplied or figured out incorrectly.
Combat losses per number of planes built just has too many variables to actually tell you anything. Does combat include getting shot up/bombed while on the ground? It obviously includes losses due to ground fire, it may include mechanical failure (engine craps out over enemy territory and the plane goes missing/doesn't return to friendly base).
You might consider that an operational loss but unless you can access your opponents records all you know is the plane went MIA.
For bombers they tried to figure out the losses per sortie. send out 100 bombers and 95 come back or only 90? IF only 90 you may run out of bombers faster than you can build them (or train crews) But if you send out 500 bombers and only lose 15 in one night you are doing really good.
A few planes, like some Italian 5 series fighters might have a terrible loss to numbers built ratio, in part because they built so few, (MC 205 about 250-260 built?) and because they were bearing the brunt of the combat at the time. But unless you know the losses per number of missions flown or losses per number of times they actually met the enemy you don't know if the plane was doing any good (was worth the investment) or not.
for a metric to be useful it needs to have as few variable as possible (and it can still be wrong)