If I replace my hybrid with a purchased wedge, won't I now have 4 wedges?
In total, yes.
"Three" means three individual wedges below the iron set.
Start with a short one, 50 or 60 yds, and spread them evenly, taking the punch shots into account.
I have full shots of 41, 50, 62, 75, 81, 100 yds between three clubs!