Understanding calculate and slicer behaviour

Hi,
I am new to PowerBI/DAX but (think) I have a decent understanding of the basics. I run into behaviour I don't understand though:
So with very simple sample data:

I want to display the last date for [model] before the current date. The current date is selected with a slicer:

The measure is set up like this:

Previous Occurence = 
    VAR selecteddate = SELECTEDVALUE(Data[Date])
    RETURN
    CALCULATE(
        MAX(Data[Date]),
        FILTER(
            ALL(Data[Date]),
            Data[Date]<selecteddate
        )
    )

 
I would expect ALL to remove all filters from [Date], but the slicer still seems to be applied. In above screenshot I would expect model A50003 to shop up with date 08/01/2024, but it is blank because the model was not present for the date selected in the slicer.

When I use a separate date table without relationship, it does work like expected:

Would like to understand why this is happening and whether I can achieve this without a separate table.

Thanks!