Is this considered to be a bug that should be reported?
No, I'd consider it a missing feature that touch events are not handled in PopupMenu for scrolling long lists. (OptionButton internally uses a PopupMenu to display the list, just like MenuButton.)
See also https://github.com/godotengine/godot-proposals/issues/3976, which is tangentially related to this. Most Control nodes don't handle touch events natively – instead, they rely on emulated mouse events to work on mobile platforms.
This is a significant amount of work to do correctly, and this is a controversial area among engine contributors, so work on this may take a while to be done and merged.