I don't know about BALD cypress, but when I was commissioned to build an outdoor thing to hold a Big Green Egg, I asked my Lumber Yard manager about Cypress. Extracting from his very long response...
While the lumber is famous for its resistance to weather and is used all the time for outdoor applications, it is actually over rated for its water proof characteristics. It garnered its reputation largely from the old growth, all heartwood varieties that existed 100 years ago. That product was incredibly weather resistant. Today’s product still holds up much better than your typical hardwood species (excepting for Teak, Spanish Cedar (hardwood?) and maybe some Mahoganies) but the sapwood mixed in with the heartwood will rot over time. It is much more affordable than the aforementioned hardwoods. Just like your Firs and Pines, it is a good exterior wood but requires re-application of paint, stain or sealant over time to maintain its look and durability. It is a good outdoor wood but not as good as it is proclaimed to be but with proper maintenance will hold up pretty well and remain beautiful for years.
Cypress is beautiful lumber with nice color and grain. It is a softwood (Conifer) but has so many hardwood type applications that the NHLA grading rule book is called the NHLA grading rules for Hardwood and Cypress. It costs 2.39 per BF Planed and straight lined. Grades commonly kept are #2C for a really nice, sound board with knots, and select that has only occasional knots.
The color ranges from light yellow (Sapwood) to a rich yellow with some beautiful reddish tones. The sapwood is still attractive and usable. The lumber is famous for its weather resistance. It is a good outdoor wood and is used mostly for exterior applications but is also nice for interiors as flooring, walls and ceiling and cabinetry.