"Search all content for {query}" does nothing

Hello

When searching for something on a site and nothing is found, there is a button/link that says search all content for {query}. For me, the only thing this button does is deselect the selected tab, regardless of what site I'm on or if one of the tabs, All Files, Sites, News, is selected. Even when I search for something I find, then select a tab where there are no results and then press the Search all content thing, nothing happens to the results.  Any suggestions as to why that is? I have tried in at least 4 tenants.....

For all the sites I have tried, there have been no changes in search settings. 

If this is expected behavior, what is it's purpose?