Same issue with my macbook pro 2016 four thunderbolt
a few days after upgrade to macOS Big Sur 11.1, it showed the red battery, 1% and Service Recommended
I've tried following ways to fix it , and all didn't work
Refresh Install of macOS Big Sur with usb
Downgrade to macOS Catalina with cmd + R
Try macOS Big Sur beta 2 version
So I went to the apple store for help , they said that the battery is dead and I need to get a new battery with around $200, damn