As noted above, an oil sight glass is by definition meant to show an oil level, typically in my experience about 1/2 way up from the bottom at an ambient temperature of 25 Celsius.
But just because there should in normal circumstances be oil visible in the sight glass doesn't mean there always is...
Over years of operating numerous substations I almost routinely found there was generally at least one CVT that [a] showed no oil in its sight glass, the operators had submitted a defect report about, requesting a top-up, so that [c] the Electrical Maintenance Department knew about it, but that [d] somehow never seemed to get topped up, purportedly because [e] something of a higher priority always seemed to pop up.
The reason this occurs is because [as noted above] the CVT simply keeps on working properly...until it either doesn't anymore or fails explosively.
This is more of a human nature thing than a technical one...
Two common English sayings used in Canada come to mind: one is "The squeaky wheel gets the grease," and the other is "It's all fun and games until somebody loses an eye."
CR
"As iron sharpens iron, so one person sharpens another." [Proverbs 27:17, NIV]