A method and system of a host device hosting multiple workloads for controlling flows of I/O requests directed to a storage device is disclosed. In one embodiment, a type of a response from the storage device reacting to an I/O request issued by an I/O stack layer of the host device is determined. Then, a workload associated with the I/O request is identified among the multiple workloads based on the response to the I/O request. Further, a maximum queue depth assigned to the workload is adjusted based on the type of the response, where the maximum queue depth is a maximum number of I/O requests from the workload which are concurrently issuable by the I/O stack layer.