In the Explorer app, the indicated altitude is the geodetic (or ellipsoidal), however, the correct altitude should be the orthometric (mean sea level), which is the one indicated on all maps and the altitude that, correctly, indicates any GNSS receiver, app mobile or also my recent Inreach Mini 2 in the navigation page (with which I am delighted, by the way).
The approximate error (depends on the geoid of the earth) is about 50 meters more.
Just suggested via https://www.garmin.com/en-US/forms/ideas/ :)