Yes, this is indeed a mistake in the guide. We have corrected it in the next version. It should read:
'The setups node does not have any metadata associated with it. To change the location of the setups folder, call WireTapNodeHandle::setMetaData on the PROJECT node.'
The setups node is merely a container.
Please also be aware of some of the limitations on the WT project API in v2007.1. These should be clearly documented in the guide. We are working to address them. Joining the beta program will give you early access to the changes.