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.
This appears to be working now. Yay! I am able to use Application Permissions to pull the Presence of any user by UserID using v1.0. Also, the beta API seems to include Out of Office messages - super helpful for our Company Directory application.
https://graph.microsoft.com/v1.0/users/$userId/presence