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cap_proc.c contains this:

268	int cap_get_bound(cap_value_t cap)
269	{
270	    int result;
271	
272	    result = prctl(PR_CAPBSET_READ, pr_arg(cap), pr_arg(0));
273	    if (result < 0) {
274		errno = -result;
275		return -1;
276	    }
277	    return result;
278	}

However, prctl is the glibc wrapper here, and it returns -1 on failure and sets errno.  As a result, all errors are reported as EPERM (which is 1).

I found this while looking at bug 2061727, but it s actually unrelated to it. It just confuses debugging because EPERM does not show up in strace.

Since the problem described in this bug report should be
resolved in a recent advisory, it has been closed with a
resolution of ERRATA.

For information on the advisory (libcap bug fix and enhancement update), and where to find the updated
files, follow the link below.

If the solution does not work for you, open a new bug report.

https://access.redhat.com/errata/RHBA-2022:7722