at 60 degrees aob, 2g holds level . Less than 2g gives a descent, more than 2g gives a climb. When in a steady descent the vertical component of the lift vector is reduced because the overall lift vector is smaller, therefore the load factor is reduced. To illustrate this, consider a 300000 lb aircraft. In 1 g flight the lift vector value is 300000lbs. At 60 degrees aob the lift vector value is 600000lbs (in level flight) If you descend, the amount of lift generated is obviously reduced, therefore assuming a constant aob, the lift vector is reduced. IE vertical component of lift vector gives load factor.