AW battery health still showing 70% after installing new battery

Hello,

Thanks to iFixit's guide, I was able to successfully replace the battery in my Apple Watch SE (first gen). I followed all the directions, including those related to battery conditioning after the new one is installed. Having done all that, however—and also having reset my watch to factory settings—the battery is indicating 70% health. I don't know if this means the battery iFixit sent me is itself unhealthy, or if there's something else I need to do for the watch to accurately reflect the new battery's health status. Thoughts?

Thanks