mypy confuses module with contents at import time

Here's a minimal repro:

.
└── example
    ├── __init__.py
    ├── cell.py
    └── component.py

1 directory, 3 files

λ cat example/__init__.py
from example.cell import cell
import example.component

λ cat example/cell.py 
def cell() -> str:
    return "asdf"

λ cat example/component.py
import example

x: str = example.cell()

And this gives you:

λ mypy example
example/component.py:3: error: Module not callable
Found 1 error in 1 file (checked 3 source files)

Despite the fact that things work at runtime:

λ python -c 'import example; print(example.component.x)'
asdf

cc @joamatab

Reproduce the report using example/init.py, example/cell.py, and example/component.py, then run mypy example and the shown Python runtime command. Trace how the import of example.cell is represented when example.component.py calls example.cell(); done means mypy accepts the valid call without introducing errors for the three-file example.