There’s no doubt about the industry standard for looping.
It’s a single global toggle in the transport.
The new BIAB GUI makes it clear how much users struggle with inconsistent behavior across views.
Looping, and cursor position all change depending on where you are, and that breaks workflow.
The existing Transport Loop icon could simply become a true global toggle that works the same in every view.

NOTE:
These are not all DAW transports:
They include video editors, notation editors, plugins with sequences built in, and DAWs.
This is to drive home the point that looping for all cases is just part of the transport code and should be kept that basic.

[Linked Image from i.postimg.cc]

Studio One (latest version), Win 11 23H2 , i9 -10940X 3.3 GHz, 32GB Mem, a 4K 40" monitor, PreSonus Studio Live III Console as interface/controller. secondarily test on Reaper, Cakewalk, and S1 on Surface Pro 3 Win 10 (latest versions).