This must be another part of Common Core math that I don’t get.
photos.app
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Do you have a lot of hidden photos?
Maybe it includes Bursts or HDR in the total?
I didn’t even realize you could hide photos.
I definitely have both. That could be it, but I doubt it’s 3500 of them.
It’s been my experience that the sum of the two numbers (16,892) is the total number of photos you actually have. If you log in at iCloud.com, how many photos do you have?
Also expect the restore to include several pictures you thought had been deleted years ago. 
iCloud says 6591, which almost jives with the total on the upper line of that screenshot.
I have a few hundred in the recently deleted folder, so that doesn’t account for the difference. Is there some other rock I should turn over?