When you are connected with the GUI and seeing all files as browsers,
can you please run smbstatus on your NAS to see what protocol version
was used?

NT1 is used for browsing when you set that option, but the client (your
machine) might switch to a higher version if the NAS says it supports
it.

For example, I just tried with a 20.04 install, browser to my NAS (a
synology DS216) using windows network, and when I actually connected to
a share, smbstatus on the server says it used SMB3_11:

root@ds216:~# smbstatus
29552   1587992052      andreas 10.10.1.230     downloads       SMB3_11


Regarding your smbclient test, you didn't add the -m switch, so it's likely is 
used a higher protocol version.

Example:
a) no -m switch:
$ smbclient //ds216.lowtech/downloads 
Enter WORKGROUP\andreas's password: 
Try "help" to get a list of possible commands.
smb: \>

smbstatus on the NAS:
# smbstatus
29833   1587992358      andreas 10.10.1.195     downloads       SMB3_11


b) with -m NT1:
$ smbclient //ds216.lowtech/downloads -m NT1
Enter WORKGROUP\andreas's password: 
Try "help" to get a list of possible commands.
smb: \>

smbstatus on the NAS:
# smbstatus
29816   1587992342      andreas 10.10.1.195     downloads       NT1

-- 
You received this bug notification because you are a member of Ubuntu
Server, which is subscribed to the bug report.
https://bugs.launchpad.net/bugs/1872476

Title:
  Shared files are shown as folders

To manage notifications about this bug go to:
https://bugs.launchpad.net/ubuntu/+source/samba/+bug/1872476/+subscriptions

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