MAX IF in Excel returning global MAX (ignorning the IF condition)

I'm trying a a basic example with MAX IF in Excel 2016, but can't get it working.

In the following example (which I took from here: http://ift.tt/1qqOgYm) the value in E6 should be the maximum value in the column B for "paper" (which is looked for in the column A), i.e., 80.

Minimal (Non) Working Example

However, the formula returns 95, which is the global maximum of column B.

Why is that? Many thanks in advance!