ToObservable and Merging

This might be a bug but I’m pretty sure it’s just something I don’t yet understand about observables and reactive. In which case could someone point me in the right direction to understanding this please?
On Beta38.1

If I use ToObservable as an input
Without merging I can receive an observable on S+H and Sampler nodes, but not holdLatest.
WithoutMerge

After merging I can only receive the observable on holdLatest, and not S+H or Sampler.
WithMerge

You connected the HoldLatest in your first gif on the wrong pin?

And use the Merge [Reactive] (our wrapper) not the advanced node Merge [Observable] (maps to the original and not really usable in an update loop).

Ah my mistake, thanks