Two measurements, not two views of one measurement
Purity is determined chromatographically. A sample is separated into components, and the target compound is reported as a percentage of the total detected peak area. The result is a ratio — it describes composition, and it is scale-free. A sample of 10 mg and a sample of 1 mg with identical composition return the same purity figure.
Content is determined by a quantitative assay against a reference standard. It returns a mass — an absolute quantity of compound found in the vial. Comparing that mass to the amount printed on the label gives fill accuracy as a percentage.
Because one is a ratio and the other is a quantity, neither constrains the other. A vial can be highly pure and underfilled, correctly filled and impure, or fail on both counts. Reporting only the ratio leaves the quantity entirely unstated, which is why a supplier can publish a completely accurate purity result for a vial that is substantially short.