Is it normal behavior? when second set we have True?
Unless you are using some very old version of the theme for 4.10 (before March) then you should't use the theme specific setting for the lazy loading as it won't be used anyway.
You only need this setting to be set to True:
And it is set by default to True from the theme settings file in the theme plugin.
p.s: Maybe you have some mix of older and newer versions between the theme plugin, the theme and Core plugin.