You can move either side of centre. Lets call 'in' when the dial is screwed clockwise and out when it is screwed anticlockwise.
A small movement in allows the middle boring bar to move to being central, smallest setting.
When wound right out the central hole will bore bigger diameter than the outer hole, so their ranges overlap – this is intentional.
Wound right in the outer hole is beyond the edge of the boring bar body allowing holes over 2" diameter to be bored.
Essentially it is set up so that despite limited movement you can still work from the size of your smallest boring bar up to 2"/50mm.
Bear in mind that the practical limit depends on how firmly the slide is supported when wound out, so extended movement is not really wanted.
You can always add a horizontal boring bar hole for really big diameters. With a stubby bar just protruding you could get down to just over 50mm, and maximum diameter depends on what sort of overhang you dare risk!
Neil