Tags vs Layers

I select a game object. Select the “Tag:” field to change it. Click “Add new tag…”
and I am presented with the “Tag Manager”. However, the tag manager is a list of Layers.

Edit → Project Settings → Tags
gives the same list.
(Also the list of premade tags: Player, MainCamera, etc does not show up in the list provided, which makes me wonder…)

Is this a bug? Or is there something I’m completely not understanding?

Thanx in advance.

The TagManager is used for both the tags and the layers. Notice the small triangle beside the “Tags” item. Click this to expand the Tags array and add new tags.