wget2 doesn't honour --timeout option

As per the title, trying to reach a non-responding host it seems the timeout option gets ignored and SYN packets are sent until the default timeout occurs.

wget2 10.1.1.2 -T 1 -t 3 -d
[...]
04.150025.900 [0] action=1 pending=0 host=0x0
04.150025.900 dequeue job http://10.1.1.2
04.150025.900 resolving 10.1.1.2:80...
04.150025.900 has 10.1.1.2:80
04.150025.900 has 10.1.1.2:80
04.150025.900 trying 10.1.1.2:80...
Failed to connect (hostname='10.1.1.2', errno=110)
04.150241.139 closing connection
Failed to connect: Connect error
04.150241.139 host_final_failure: qsize=0
04.150241.139 set_exit_status(4)
04.150241.139 host_increase_failure: 10.1.1.2 failures=1
04.150241.139 [0] action=3 pending=1 host=0x892b4c0
04.150241.139 released job http://10.1.1.2
04.150241.139 [0] action=1 pending=0 host=0x0
04.150241.139 host 10.1.1.2 is blocked (qsize=1)
04.150241.139 main: wake up
04.150241.139 main: done
04.150241.139 blacklist http://10.1.1.2

After a git bisect, the offending commit identified is:

0e60ece89ab1 ("Connect using synchronous socket")