VBA Compiler broken?

[Frosty]

I've tested this in Office 365 and 2016... is this is some kind of fundamental change to the compiler, or have I just missed this bug all these years?

Sub Test1
Dim p As Paragraph

Set p = Selection.Paragraphs.First
Test2 p.Range
End Sub

Sub Test2(p as Paragraph)

Debug.Print p.Range.Text
End Sub

Why does that only provoke a run-time error of type mismatch? Shouldn't it provoke a compile error?