The stock battery app will show 100% even when the battery isn't really 100% (if you trust Coconut Battery or Better Battery 2, which will show the exact real time battery charge).So after updating to 11.2.2 it appears that the optimized charging has gone back to just keeping my MBA at 100%. I don’t know if the update broke something or if it tossed the previous usage history and had to start over. If it’s the latter, it is going to seriously limit the usefulness of the feature if every time there is an update it has to start over while keeping the battery at 100%.
When I was running 11.1 and 11.2, the optimized charging feature appeared to work (slowly) and seemed to be really limited in the amount of discharging it would allow before resuming charging. I have since turned it off and gone to using AlDente (as a test) which gives me a little more control over where I want to keep the battery charge status.