Вы можете использовать cut
pd.cut(df.Points,bins=[0,20,80,150,999],labels=['very low','low','medium','High'])
Out[64]:
0 very low
1 very low
2 low
3 low
4 medium
5 medium
6 High
Name: Points, dtype: category
#df['new']=pd.cut(df.Points,bins=[0,20,80,150,999],labels=['very low','low','medium','High'])