-noload option fails to not load modules

The qtcreator binary provides a noload option for modules.

1) run "qtcreator -profile" and notice, say QmlProjectManager, loads.
2) run"qtcreator -noload QmlProjectManager -profile" and notice that the QmlProjectManager module still loads.

I would expect the -noload option to not load the QmlProjectManager module on startup.