Avatar constructor returns null

Constructor of the Avatar object returns null. It is weird, since it is not entirely possible in C# except for some cases (Nullable objects).
You can test with this code:

[ExecuteInEditMode]
public class Test : MonoBehaviour {
    void Update(){
        Avatar avatar = new Avatar();
        if(avatar == null) Debug.Log("Constructor really returns null.");
    }
}

Any thoughts? Is this a bug or shennanigans?

Try using the AvatarBuilder for creating Avatars.