Image loadingBuilder does not work with asset image

It seems like the loadingBuilder is not working. Here is my code:

Image(
  image: const AssetImage('assets/logo.jpg'),
  loadingBuilder: (context, child, loadingProgress) {
    print(loadingProgress);
    if (loadingProgress == null) return child;
    return const CircularProgressIndicator(color: Colors.red);
  },
)

To easily see the problem you need to use a very large image for logo.jpg (> 10 MByte).

The output shows that loadingProgress is always null even if the image is not completly loaded yet:

Restarted application in 2.189ms.
I/flutter (22961): null
I/flutter (22961): null
I/flutter (22961): null

What's wrong here? Why does the loading builde not work as expected?

Edit: I created an issue in the Flutter repo for this problem: https://github.com/flutter/flutter/issues/96700

While debugging, I've found a solution which works, but is quite ugly:

Image(
  image: const AssetImage('assets/logo.jpg'),
  loadingBuilder: (context, child, loadingProgress) {
    if(((child as Semantics).child as RawImage).image != null){
      return child;
    }
    return const CircularProgressIndicator(color: Colors.red);
  },
)