It's juicy. Some people's preference of "dry" varies.
Some people can't fathom others liking well done, some can't fathom rare. Pink in the middle is preferred but at red it's too watery for me, to each their own.
Most of the juice in my experience comes from cooking the meat long enough to render the fat. I've had medium-rare steak before where the fat was all still solid. Didn't seem all that great to me even though all the others raved about it.
Yes, I think most juiciness is actually fat/oil, not water. Pretty sure one of those more serious food blogs measured it once. This is why basting in fat is important sometimes.
I was gifted some leftover thin wagyu cuts recently. I cooked them through because they have so much fat they're still tender, and the brown adds flavour. It just had to render enough. I guess they were technically "well done" but perfect for me, as someone who prefers medium on typical steak.
Most of the juice in my experience comes from cooking the meat long enough to render the fat. I've had medium-rare steak before where the fat was all still solid. Didn't seem all that great to me even though all the others raved about it.