Ummmm, yup correct, but… let me explain what I think should happen:
1. I try to select the top edge loop (like in the picture)
2. it starts selecting edges and gets to the extreme vertices. For example the one on the right. At this point there’s no other way to go but down. So, at least for the next edge the direction is clear IMO.
So, from this, shouldn’t it at least select one more edge? I mean, from the extreme vertex to the next one down. At this point you’re right there are 2 ways that could be followed. (Down or left), if doing right side or (down or right) if doing left side.