I've never seen this interpretation before. I've always read it as both conditions only reaching out to 60 ft.. . . in 5e it lets you see in darkness as if it were dim light at any distance, and in dim light as if it were darkness* within the radius.
Reading it again, I can see why you interpret it as saying it lets you see in darkness as if it were dim light at any distance, though. How many other people here go with this interpretation?
*I'm assuming you meant bright light instead of darkness.