Incorrect project list order select default label

Summary

The default project list says that sort order is "Last created", but that is not the case.

The actual default order is "Oldest created", but the label says "Last created"

E.g. go to https://gitlab.com/ensc-groups/bpi-router

Now, go really to the "Last created" view (either change the sorting to something and then back, or go directly to https://gitlab.com/ensc-groups/bpi-router?sort=created_desc):

--> Both times "Last created" is shown as actual order, but both give different results (the first one is wrong).

Expected behaviour

The initial select label should match the actual order type. In this case, "Oldest created"