Why does the Dawn Theme image-banner.liquid return 'First Image'?

Store Design
1

why is the “label”:“t:section.image-banner.settings.image.label” in

“settings”: [
{
“type”: “image_picker”,
“id”: “image”,
“label”: “t:sections.image-banner.settings.image.label”
},

returns “First Image”

2 
t:section.image-banner.settings.image.label

references the string at that path in locales/en.default.schema.json.