Looks a little soft, what type of Master Cylinder is it?
Helps if you list what bike it's on.
Helps if you list what bike it's on.
So if you open up the bleed valve and you don't touch the lever no air will get into the bleed valve?That looks normalish to me. But if I were you, I'd take my time and do a thorough bleed. Start at the far side caliper, go to the right side and then bleed the master. Go slow and don't let the reservoir run dry. Do three or four good bleeds per screw and do the circuit two or three times. If your really patient, try a gravity bleed. Put a hose on the bleed screw, open the reservoir and then crack the bleed screw ( don't touch the lever!). This can take awhile but I just went through popping a piston out of a caliper and the gravity bleed was the most effective getting fluid fully back in the system. Do them one at a time in the same order, furthest to closest.