https://github.com/jenkinsci/jenkins/blob/master/core/src/main/resources/hudson/model/View/newJob.jelly#L36 includes an implicit assumption that Views are not embedded within folders or other ItemGroups.

Thus if you have Item.CREATE in a folder but not at the root of Jenkins you will see an ERROR message when following the newJob link and the "OK" button will remain disabled (as form validation is used to lock the button)