Using exec on a non-supported binary format shows "Success"

[Removed by request]

I'm using Ubuntu 16.10 dev with bash 4.3-14ubuntu2 and on using exec on a non-supported binary format I'm getting the output "Success" while the file couldn't be executed like in this example:

sworddragon@ubuntu:~$ exec '/wine/drive_c/Program Files (x86)/Steam/Steam.exe'
bash: /wine/drive_c/Program Files (x86)/Steam/Steam.exe: cannot execute binary file: Exec format error
bash: /wine/drive_c/Program Files (x86)/Steam/Steam.exe: Success

[Removed by request (removed3425744)]

I also noticed if the binary format is registered but the file has no executable permissions I'm getting 2 times the output "Permission denied":

sworddragon@ubuntu:~$ exec '/wine/drive_c/Program Files (x86)/Steam/Steam.exe'
bash: /wine/drive_c/Program Files (x86)/Steam/Steam.exe: Permission denied
bash: exec: /wine/drive_c/Program Files (x86)/Steam/Steam.exe: cannot execute: Permission denied