I'm surprised that "muchas" can mean both "several" and "a lot of". (I got this as a "mark all correct translations" question with sentences with both of these translations marked correct.) In English, I think "several" and "a lot of" imply quite different things. So if someone had 3 apples or 50 apples, they'd still have "muchas manzanas"?
I would say that like afternoon, evening, and night, these are concepts that overlap. What is several in one situation or to one person might be many or a lot in (or to) another.
Pedro: Do you have a television in your lake cabin?
Maria: Yes, we have several.
Pedro: Really? How many?
Maria: Not many, just three.
Pedro: Wow! That's a lot! We only have one.