Hi there,
This is a bug that I have come across when trying to create my own custom breadcrumbs within Divs etc for a Post Layout. This pulls in taxonomies via a Current Post Terms and then lays them out with a separate Text element for the delimiter (a comma) which I want to hide from the last item, so that it only puts a comma between terms, and not at the end as well.
After extensive testing, I have found that the Index seems to be showing incorrectly when using the Current Post Terms looper provider. I have set up an example of this to show the difference between using Current Post Terms, which has an incorrect Index, and Recent Posts, which shows the correct Index:
The top list, “Climate Change, Health & WellbeingSustainability,” is using the Current Post Terms provider, and you can see that the index is beginning at 2 rather than 1, which is leading to the comma being hidden on the second term, rather than the last.
The bottom list is using the Recent Posts provider, and the index begins at 1 as expected, and the comma disappears for the last item in the list as expected.

I’m really grateful that you took some time to track down what’s going on in the code - that’s a huge head start for me. I’ll take a closer look and get something worked out and also has consistency across all looper types.