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Precisely. ISO C and C++ have a notion of various implementation limits, one of which is nested function calls due to exhausting the stack. TCO could be about a carveout on this limit.

Having said that the standards give way too much leeway for the limits, so a conforming implementation might have arbitrary limits for loops as well (at least in C++, I'm not that familiar with the C standard's wording).

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Note that compilers are more than happy to delete 'while (true)' if the loop doesn't have side-effects.
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I think this is no longer true. C++26 implemented a change to make trivial loops like these defined behavior (and therefore will loop endlessly as you'd expect). And this example was always defined behavior in C.

Both languages continue to have examples of slightly more complicated loops that can be assumed to terminate in the absence of side effects, but `while(true)` isn't one of those any longer.

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Of course. I wasn't talking about empty loops.

But also, I wouldn't rely on a compiler to remove empty 'while (true)' loops.

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It’s precisely not the semantics of the program that will crash the program, but the behavior of the language implementation. It’s similar to when a program in a GC language fails with OOM because the language implementation uses a no-op collector. That’s usually not part of programming language semantics.
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Tail call elimination often is part of the language semantics though, for the reason others in this thread have described. E.g. Scheme specifies when a conformant implementation is required to eliminate tail calls: https://conservatory.scheme.org/schemers/Documents/Standards...
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If you wrote a correct binary search algorithm and you observed that, under one language implementation, the time complexity scaled linearly with the size of the input instead of logarithmically, you would think the semantics of the program were changed.

If you used an in-place sort algorithm and observed memory requirements that scale super-linearly with the size of the input, you would think the semantics of the program were changed.

In languages with such tail call guarantees, tail recursion _is_ a loop. It semantically encodes constant space complexity.

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Programming language semantics as in https://en.wikipedia.org/wiki/Semantics_(programming_languag... is usually decoupled from space complexity. An interpreter or emulator is considered to preserve language semantics even if it changes time or space complexity.
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We're talking about the same thing. I disagree. Such interpreter or emulator would preserve _some_ language semantics, but not all.
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The specification allows implementations to have limits on maximum call stack depth and all sorts of other things. It's absolutely semantically meaningful in C to allocate a new stack frame.
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The details of how a stack is managed isn't normally part of programming language semantics.
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