Elastic search documentation about merge scheduling does not explicitly state that index.merge.scheduler.max_thread_count is a shard level property.
The documentation states that this is The maximum number of threads that may be merging at once but this is true only on a shard level.
Specifically, this recommendation: If your index is on spinning platter drives instead, decrease this to 1 leads one to assume that the node disk write concurrency will be 1 which is the case only with one shard and one index on the node.