IMHO this behavior is not expected by most users. And when talking about me, it's really irritating

Often when i need to inspect some long files (e.g. logs), I search some text pattern to locate the part of the file i'm interesting in and then need to look to various messages around it (before and/or after) to see it's not the right place in the file and need to find next one (or to compare the two places in the logs).
So I press <F3> to just realize I'm on the same place as before -- because I moved mouse wheel few line back to see what messages preceded the one with the matching text.
Or as an alternative -- a lot of editors/viewers continue to search from position of the current selection, as it highlights the last match. (Unless the user changes selection of text with mouse the two solutions behave identically.)
Regards