all implies some hierarchy, that’s a good point, but it isn’t at the same level than “only” imo.
You can make exception in any “all” rules, like, you can say “you can buy all drinks except alcohol”, but if you try to say the same with only, it becomes more tricky : “you can buy only non-alcoholic drinks”
From that sentence, how do you even add an exception? That’s the issue with the word “only”, hence why I believe it’s higher in hierarchy. You can’t make exception in rules using “only”, or it gets weird (“you can buy only non-alcoholic drinks, except beer/orange juice” not even sure if it should be beer or orange juice after the except to make the most sense).
Also, don’t forget that the word “all” must be used if you don’t want the text to be overly long, while the word “only” can easily be removed. For instance, moonfang could have “Damage is reduced to 1 on this minion”. That way, it’s more explicit that other effect can affect that damage reduction.
As for the replay, I wasn’t the one doing it, it was skizzy, look at that thread I posted earlier : Moonfang interaction - #12 by Skizzy-11719