The argument is that an infinite loop without side effects isn't a real program. It's not useful for anything except wasting cycles.
And unfortunately that argument would be incorrect, because not only is there a realistic chance of hitting this on embedded systems, the fact that LLVM baked this into its low-level semantics resulted in miscompilations in Rust for a time, where `loop {}` is a valid way to implement a diverging function: https://github.com/rust-lang/rust/issues/28728
Yeah the argument here is clear, also rather silly. Either you must accept that your language allows for completely useless computation, or, if the compiler is so good at detecting "unreal programs" it should also refuse to compile them.
Of course the infinite loop should run as expected.
It breaks the most fundamental debugging expectations (such as "delete code until problem disappears") if the fundamental, minimal building blocks of a language, when on their own, do random rubbish.
To understand a program that does something, better first understand a program that does nothing.
As a fan of sensible analogies:
You put a salad bowl with vinegar into the fridge and notice that when you do that, the fridge stinks afterwards. You try again without the vinegar, then without the salad. In C++ world, upon receiving the empty bowl, the fridge detonates ("it is not useful"), blowing up your house. That is not OK.