Yes Will the template has nothing to do, but if you allow only 1 account, I mean Limit of the number of profiles (0 - no limit) = 1 you can not create, even if you click on profile, the page is empty.
I tested with Limit the number of profiles (0 - no limit) = 0 so yes you can create a profile,
But with Limit of the number of profiles (0 - without limit) = 1 you can not create a second one.
So I think it works properly. I specify that I do not have Org installed, but I guess he does not change anything.

Correct?