Docs feedback: only definition wrong?

As I currently understand it "only" combines the list of refs with "or", like in the example from the documentation:

The refs strategy can take the same values as the simplified only/except configuration. In the example below, the deploy job is going to be created only when the pipeline has been scheduled or runs for the master branch:

deploy: only: refs: - master - schedules

This does not match the description of only given in the documentation:

only: means “include this job if all of the conditions match”.

which suggests a combination of the list of refs with "and".

I suggest:

only: means “include this job if any of the conditions match”.

which would suggest a combination of the list with "or".

I am very new to CI with Gitlab and very sorry if this issue turns out to be a lack of my knowledge rather than an error in the documentation.

Best regards Beni