Translation:He is not tall, rich and handsome, but I love him.
We native english speakers don't usually use "and" in a negative list like this. "He is not tall, rich, or handsome" or "He is not tall, rich, nor handsome"
Unless it's a set phrase like "tall, dark (rich) and handsome". Although it really depends on whether you're negating everything, in which case you would use "or", or indicating some of the qualities may apply but not all, in which case you would use "and".
I agree with that. But the Chinese 高富帅 is a concept and as such is treated as an adjective. Again there is no good translation for this that would work in every situation. Of course they should accept or/nor in the English, if not just report it.
My completely unhelpful comment: I think they're intimating that the poor guy should have a trifecta of these qualities.
Does the not negate all 3 terms individually or together? So is he neither tall, nor rich nor handsome or is he just not all three together, but could have two of those attributes?
From the way it is used in the sentence, 高富帅 appears to be one word, and a noun at that (note how it is preceeded by 不是). I think that the literal meaning is "a tall, rich, and handsome guy."
I think the term has the same effective meaning and "feel" as the English phrase "tall, dark, and handsome," which is a set phrase describing a guy who is all three of those things.
So to answer your question, I think 他不是高富帅 means that the guy doesn't fit the full description. It's possible that he has one or two of those traits.
It's a parallel to "tall, dark, and handsome," which could be used with "and" like this sentence since it is one concept, not a list of three separate things.