The 80% Limit is a gimmick that was Apple's answer to "noise" on the Internet from users who think the their battery will explode if it is charged higher an 80%.
In theory, the battery might go a month or two longer than a battery that is regularly charged to 100% and if all that you care about is getting the absolute longest life from the battery, that might be the best setting for you to use.
I've tried it both ways and strongly prefer the Optimized Battery Charging setting and ignoring the 80% Limit. I get at least 2-3 more hours from the battery each day using this setting, since the battery starts each day at 100%.
Frankly, if another user gets a month or two more out of his battery with the 80% setting, I could care less. My goal is to get a much out of the battery each day as I can. I've always been able to get 4-5 years from the battery, and that is fine with me, but I realize that other users have different priorities.
Watch for more "gimmicks" on newer iOS versions in the future.