Project.qbsSearchPath has no effect in current file

The treatment of qbsSearchPath is inconsistent. Consider this Qbs project as an example:

Project {
    name: "My Project"
    qbsSearchPaths: "qbs"
    MyCppApplication {
        files: ["main.cpp"]
    }
}

In addition, there is a "qbs" directory, an "imports" subdirectory, and a file MyCppApplication.qbs within "imports":

import qbs 1.0

CppApplication {
    Group {
        fileTagsFilter: product.type
        qbs.install: true
    }
}

Like in the example, I would expect that qbsSearchPath expansion is available within the Item where the path is defined, and in all items refered to from there. But this doesn't work. Instead, Qbs throws a message "Unexpected item type 'MyCppApplication'.

The attached archive provides a self-contained project showing this behavior (see NotWorking.qbs).