Doubtful. Cisco software code quality isn't the best, even in their specialist fields (see the number of BGP related bugs that are patched every year, still). This looks like just another stupid bug that has already been fixed in a future release.
Yup. They have lots of smart people, but something has been badly wrong on the code quality front for decades. I remember not long after the turn of the century doing inter-continental live debug sessions with their team because the multicast IPv6 acceleration (MLD snooping, like IGMP snooping but for IPv6) they'd shipped was completely broken in our Catalyst 3750s. As usual the authorised workaround was to disable acceleration, destroying the value added by Cisco's incredibly expensive product so I was on Transatlantic conference calls after hours trying to get them to reproduce the issue so they could actually ship us a fix.
My theory is that the business is more focused on getting contracts and sales, and getting in some useless magic quadrant than they are on actually providing a quality product.
