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Which condition becomes TRUE? Answer: Always the first TRUE one, not the latter ones!

See the following example of sub sets.:

Cond. 1: Cell value < 2 red
Cond. 2: Cell value < 4 yellow
Cond. 3: Cell value < 6 green

    |
    +------+
    |Cond.1|
    +------+-----+
    |      Cond.2|
    +------------+-----+
    |            Cond.3|
    +------------------+--------------
    |                  Cond.0
    +---------------------------------

Cond. 1 is sub set of Cond. 2, both are sub sets of Cond. 3, and all are sub sets of "Cond. 0" (unspecified).

Cond. 0? Yes: Cell value < infinite: The cell keep its original format, because none of the Cond. 1-3 matches.

"Green" only results on 4 und 5 (when limited to integers). At a sub set problem you need this "stairs model" which broadens to its bottom. The condition can land on each of its stairs; in other words: each condition can be met!

The reverse means: Do not put sub sets of results in latter conditions:

Cond. 1: Cell value < 6 green
Cond. 2: Cell value < 4 yellow
Cond. 3: Cell value < 2 red

    |
    +------------------+
    |            Cond.1|
    +------------+-----+
    |      Cond.2|
    +------+-----+
    |Cond.3|
    +------+--------------------------
    |                  Cond.0
    +---------------------------------

The first condition here overlaps all defined following conditions, which means, they can not become TRUE. If Cond.1 fails, only Cond.0 is possible.

More than 4 Conditions?