IMHO and as an Macbook Pro owner since Jan 2008, what I see is normal proper performance.
ku4hx's term "eye candy" is a good one. Health's only real use is so Apple can determine if a battery should be replaced under warranty.
The problem is to some extent, math. "Health" as displayed is current full-charge capacity divided by the "design capacity." The latter is an AVERAGE of all batteries of that specification. That means some individual batteries will have actual new capacities that are more than the average and some less. I have an Macbook Pro whose "health reported as 102 % when it arrived from Apple.
So the "divisor" (design capacity) in the heath equation is not a constant. It varies from battery to battery.
Health is also seriously non-linear over time. How about some data? Data good; guessing bad.
Look at this one-year report from my 10-year old Macbook Pro whose original battery today is at 80 percent but still reports "normal" and provides decent runtimes:

Between June 5 and June 25 2022—20 days— "health" plummeted nine points, then recovered. 15 months later is still showing 80%.
So do you want to deplete your "worry account" on something that is so inexact? I'll save mine for more important worries.