The feature "list" doesn't work in the actual eselect version (1.0.11-r1) - it is now called "list-modules". It's right documented in the manpage, but not project-specific documentation. Reproducible: Always
It actually looks correct to me. The web page is saying that 'eselect <module> list' is valid - and it is.
The documentation is formally correct. It could however mention the "list-modules" feature. Changing severity to "enhancement". (And to add to the confusion, in eselect 1.1 it will be "eselect modules list" instead of "eselect list-modules", see bug 148578.)
I've added a sentence about "list-modules".