As far as I can tell, the "Someone just used your master password to try to log in to your account from a device or location we didn't recognize" email we all received was only sent when a correct password was used. Incorrect passwords did not trigger that email.
But yes, it would be great to learn that those emails were sent incorrectly i.e. it was a false positive (i.e. someone tried to login with a wrong password, but the email above was sent anyway). It's still not great that the wrong kind of email was sent, but that would be a low level bug.