Correct. The iPhone battery reader is really vague between 95% and 100%. So that cycling when at 100% is a 5% cycle, from what I can tell via coconutBattery - that is not visible to the user (unless the user can see the exact mAh). The phone will always report 100% but stop charging at true 100%, drop to 95% (while displaying 100%) then charge again - repeating this over and over if plugged in all the time.
This is why, if you are charging your phone, and at 96% unplug your phone and quickly plug it back in, sometimes it will say 100%. And why if you leave your phone on the charger for hours after it says 100%, it seems to take FOREVER to move off of 100%.
I kept my 6+ plugged in at my desk basically every work day for almost 2 years. It went from 103% design capacity to 99% after 240 cycles. I think Apple does a much better job than Dell at keeping their batteries healthy at 100%.
I too had a Dell Laptop that I kept plugged in all the time, the 65whr battery barely kept a 20 min charge after just a year.
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This is the best advice. Don't worry about the battery. Apple does a great job of taking care of it for you. My wife lets her phone drain to 0%, just uses it like normal while I baby my battery - her design capacity after 300 cycles was almost identical to mine.
So
@Newtons Apple has the best advice here.
If you do want to care for your battery... keep it out of the heat, try not to let it go below 20% charge, and enjoy your phone.