This is definitely a bug – thanks for reporting it! I filed this as issue #528, I’ll report back here when I get a chance to take a look.
Based on the screenshot, I’m thinking there’s some other issue with your profile that is not shown in the user UI, but not sure what that could be. The redirect logic is there for 1) new users who don’t have profile set and are trying to do something on the site before creating it, and 2) old users who haven’t set some required values in the profile and some feature that needs it crashes.
I’m currently working on the next gen login page (that we could add straight to the live page as well so new users could register and login right there), this will be helpful for adding better tests to the new code as well