I just checked mine (a mid 2012 15" MBP) . Cycles count is 1451, and condition is Replace Now, which I was actually planning to do this month. I don't need to use it on the go so it is plugged in mains power all the time basically.
Even though I'm planning to upgrade to a 16" M5Max MBP next year, this one will stay for legacy software so the battery replacement will be to avoid it damaging the the motherboard etc.
It's possible to have a higher cycle count but less maximum capacity. I have two MacBook Pros currently, one has < 100 cycles, but is 80-something percent max capacity. One is pretty new, has nearly 300 cycles, but is > 90% max capacity.