100% will do more damage....over time of course. High charge cycles is basically equivalent to how many miles you put on the car.
If you follow this graph you can see that most lose 5% fairly quickly, but then it seems to level off quite well. These are doing better than even Tesla predicted.
Charge cycles will be equivalent to the above in a general sense. So in conclusion you're not right, but you're not wrong either. Do you have a scenario you'd like to bring up? That might help with the discussion