Editor camera points aren't created at the position of the camera

The bug

The control points created in the new editor cinematic tool are created at the player’s feet, not at the camera position. This means that the view you have when creating the point is not the view the point actually represents.

How to reproduce

1. Open editor mode

2. Go to the cinematic tool

3. Create a control point

4. Click “move camera to point”

5. Click “update to current point”

6. Repeat

Expected results

Neither you nor the point should move

Observed results

You and the point continue moving infinitely downwards, since the camera and point position do not match.