select      min(time)   as time_min
           ,max(time)   as time_max
           ,value       as value

from       (select      time
                       ,value

                       ,count(is_gap) over 
                        (   
                            partition by    value 
                            order by        time
                        )   as is_gap_seq

            from       (select      time
                                   ,value

                                   ,if 
                                    (
                                        time - lag(time) over 
                                            (partition by value order by time) > 0.001
                                       ,1
                                       ,null
                                    ) as is_gap

                        from        t
                        ) t
            ) t

group by    value
           ,is_gap_seq
;

附笔
我在用 IF 而不是 CASE 因为某种原因 CASE 产生以下错误：
失败：indexoutofboundsexception索引：2，大小：2
使用 FLOAT 为此目的是个坏主意。
它不会给你预期的结果。