DEL unnecessarily terminates a C-r search

[Dan Jacobson]

Let's say you type C-r long_search_string but you make a mistake and
you want to erase the final character[s] with DEL just like we do in
emacs when searching.  However, in bash [2.04] the search is
terminated with no good reason and your long search string must be
retyped from the beginning.
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