It depends.
Some batteries keep even voltage and age to 20% capacity and run all the way smoothly.
Other have a problem with one cell and can’t even run the device when the overall capacity is 92%.
If you think of a battery as a gas tank, this lets you know how much of that tank original capacity is available for the next “fill”. Other characteristics determine if voltage is high enough so that diagnostic is more valid for sudden shutdowns due to low voltage even when there is plenty of mAH left in the “tank”.
The pragmatic thing to do is optimize your settings, make sure you have a backup, and watch things. Batteries are usually eligible for warranty service at 80 % FCC, but you can always get remote support from Apple to diagnose your battery health and decide when to get a repair.