This page is the api's own view of the job queue, refreshed every 30 seconds. If a scene of yours has sat at queued for a while, it says whether that is the queue or the scene. It is not a promise about the GPU hosts, which the api cannot see from here.
It can tell you whether scenes are being picked up: how many are waiting, how many are being built and where, whether a worker has checked in recently, and how long ago the last scene finished. Those come straight from the queue the api writes to, so they are current to within the refresh.
It cannot tell you whether the GPU box or the overflow lane is healthy. The api never talks to those hosts directly. The workers do, and a host that stops answering shows up here as a scene that stays at building for longer than usual, then as a worker that fails it. "Degraded" here means one of three things: the api cannot see its queue, no worker has checked in recently, or the oldest queued scene has waited longer than usual. Anything else is "ok", which is a statement about the queue, not a guarantee about your scene.
A scene that has been at queued for more than half an hour while this page says ok is worth an email to hello@edgemoss.com with the link.