We refactor mercilessly, and use Cyclomatic complexity as one of the metrics that gets code on our ‘hit list’. 1-6 we don’t flag for complexity (although it could get questioned for other reasons), 7-9 is questionable, and any method over 10 is assumed to be bad unless proven otherwise.
The worst we’ve seen was 87 from a monstrous if-else-if chain in some legacy code we had to take over.