Yes: it is a bug. And once the dropdown list displays you cannot continue typing - you need to mouseclick on the box to type further. Definitely a bug.
The old iSpot refined the search as you typed more and more: it kept pace with the typing, without freezing the display and without locking you out of typing further.
The new system also does what the old did, and finds multiple matches. So type "Cha jas" and the matches will be found ... most useful (one of the "bugs" - sensu DavidHowdon - that the programmers have fixed).