Depends on the rule and what you are trying to achieve ;-)
Granted, it can be inelegant indeed, but combining AND and OR within a single rule and then with multiple other rules being executed as well can get pretty complex fast as well.
For most conditions*, staying within the rule is AND and when you have multiple rules with the same conditions, they behave like OR. It helps maintaining an overview to some extend.
Having too many rules isn't the way to go either and could actually indicate that your email triaging method isn't that efficient. A good rule of thumb is to achieve everything within 10 - 15 rules. There are always exceptions of course, but in most cases,
even complex working scenarios, it seems to hold up.
There are some alternative methods to using rules as well. This guide describes them for Outlook for Windows but you can find many of these methods in Outlook for Mac as well; Managing
a large amount of message rules
*There are conditions like "From" and "with specific words in..." which take multiple values that behave like OR.