We recently discovered this in our moodle 3.4.4 and even the master branch (nightly). When we put a restriction on an activity or a ressource, you can select that the student must or must not match the following conditions. When we choose "Must not" and select the match to "All", the string that is displayed in the course is the opposite. It tells us that the student must complete only "one of the following".

The same happens with the match selection at "Any". Moodle will display that "all of the following conditions must be complete".

This is problematic because the system does the opposite of what we want.

I uploaded some screenshots to show the problem.