Adjustment clip affects all layers?

Anyone else? Is this a bug or is there a new option I'm not aware of? I checked the 17 manual and it still says:

... any filters or other effects that are applied to the Adjustment
clip are also applied to all clips underneath it.

Definitely not doing that.

17.2 Build 11

Actually, yes it is. I'm just an idiot and was misinterpreting what I was seeing. What I thought was a black background that should have been unaffected by Lift adjustments in the adj clip was actually a transparent background...which WOULD be affected in this case. My bad.

Mods pls delete.