Draining while plugged in? WHOA.
I'm Halliday is copying and pasting his response, but while we wait...
I also spent a lot of time on the phone with support, actually I started with chat where I escalated to a senior advisor and then requested to escalate again to engineering which is when I was asked to call in and had to escalate to another senior advisor lol
The second one was pretty helpful in that he at least tried to look into their resources to see what had previously been noted, but found nothing.
Through conversation, and not in so many words, we arrived at the conclusion that Big Sur is significant and most machines/apps are not ready. It's basically designed with their M1 chip in mind, so while their official position will never openly admit to pushing users in that direction, that's basically what's happening.
What was officially noted it that Big Sur has tighter power tolerances, and while my battery may have been fine a while longer on Catalina, it did not meet the standards of Big Sur and was therefore flagged as no longer being compatible.
I am testing this out with my wife's 2015 MBP which we have not upgraded and has a battery which, according to the Sr. Advisor's assessment, should require replacement soon as well. My guess is it will last a long time yet, which will prove, at least to me, that Big Sur just costed my $420 to replace my battery and revert back to Catalina.
I hope you get yours figured out as well!