Generally there may be other logic that ends up controlling display in tandem with what you’ve edited.
Either externally or within the initial {% if %} condition.
Glancing over the url’s code for /collections/all-products , NO media is loaded at all.
Double check the syntax of your image logic by validating it’s parts in a custom-liquid block every step of the way, {{ placeholder}}etc etc.
If you need this debugged then contact me by mail for services, contact Info in signature.
Please always provide context, examples: store url, theme name, post url(s) , or any further detail.
Contact Info in signature.