Currently only delegated user permissions are supported, and this is very sub-optimal for bots and service applications that need to monitor Teams presence of users.
Upvoting as well.
Almost 1 year now, still no update. PLEASE try to listen users' voice.
We have a service to read and sync user's presence between Teams and another communication software, without get presence permission, we have to ask our customer to provide an bot user with password for us to do under delegate permission, quite annoying.
Since it is named Presence.ReadWrite.All, please make "Read" works, otherwise remove "Read" to avoid misleading.