[Python] Why does mypy issubclass type narrowing only work on "type" instances?

Code snippet:

from typing import Any

class MyClass:
pass

def f(o: Any) -> None:
if isinstance(o, type) and issubclass(o, MyClass):
reveal_type(o) # Revealed type is "Type[MyClass]"

if issubclass(o, MyClass):
reveal_type(o) # Revealed type is "Any"


Is it a bug in mypy or is there a reason why the 2nd example is not expected to work?

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