This car has good ole oil dipstick.
As for LM, their main selling point is that they are Made in Germany. Bunch of other better oils on the market Made in Germany or not.
But he said he used the electronic measurement for reference in his E46 330 and his wife's 328 E90 definitely doesn't have a dipstick by nature...
"Bunch of better oils" or not on the market is totally irrelevant, I'm sure no car without any kind of engine problem would burn almost one quart of (Liqui Moly) oil in 128(!) miles, that's ABSOLUTELY impossible.
OP have in mind that immediately after an oil change the new oil is in the sump, but the oil passages and the new oil filter are empty. When you first pour the fresh oil in it can read "max" on the dipstick, but when you start the engine for some seconds the oil galleries and the oil filter take their amount of oil, if measure the oil after the engine's been started its level will drop significantly - this doesn't mean your car has burnt 3/4 quart of oil in 2 minutes, just the oil passages and new oil filter have filled with fresh oil.