Once an app is run for a given search term it is given higher points. This is done because often people really want something which would not be the default for a given term. This is not a bug. The OS also does this. You would be equally annoyed if there are two shortcuts which match cal for example (calculator and calendar for example) and you wanted calendar and it was never the default. By factoring in your choice the app adapts to your needs.
Substring searching is an interesting one. Win10 does not do this which means a search for SVN will not produce results for VisualSVN which isn't ideal for a user either. I think it is something of a user preference thing. Substring matches are given a much lower weighting than other matches. So SVN.exe for example would get more points than VisualSVN. We have modified search in a future S11 build to give weighting to end of word matches too and downweight mid string matches further.
As for the sort order, it is based on search points calculated using the a number of values. A-Z isn't one of those factors unless terms end up with identical points.
During investigation I did confirm the path is incorrectly being used. It was supposed to be using the first subfolder only as an additional weighting factor, but was including the full path instead. This has been addressed for the next build and thank you very much for reporting this to us.
I suspect the issue with the path is whats been causing you most trouble as the normal substring matching is extremely low weighting and is liable to only show up if you have no other results. The folder name code does use substring matching but the weighting should have been reducing the impact so better matches were well above them. The weighting of these has been tweaked a bit now.
The path is an important factor to a degree as for example a search for Visual Studio code by searching for VSCode would not match by default as the shortcut is Visual Studio Code and the exe is code.exe. But the folder it is contained within is VS Code which can be used as a match.
I am a little confused about the reference to quick search as the item run when you press enter will be the item selected in the search results. So what you see on the screen should reflect what is run. If this is not the case for you then a video showing this or screenshots would be most helpful.
I would expect to see the above changes in an updated 2.07 beta (not the 2.07 build from yesterday) soon.