Switching default permission from "write" to "read" is broken

The default permission of "Read" does not work when the previous setting was "Write" - if it was "No access", things work fine.

Steps to reproduce:
1. Using an admin account, create a new project
2. First, set the default permission to "Write", then switch to "Read".
3. Try to access the project using a non-admin account.
=> Result: project is not listed, accessing its URL directly results in 401 Unauthorized.
4. Using the admin account, change the project's default permission from "Read" to "No access", then back to "Read".
5. Try to access the project using a non-admin account.
=> Result: project is listed and can be accessed regularly.