That's some of the worst advice I have seen wrt. code commenting. Comments should never describe what the code does. If it is not obvious from the code, it should be refactored.
The strategy of verbose and essentially redundant comments are bound to end up in outdated and/or useless comments. If such a practice is employed in industry, forcing people to comment every loop, etc. as you describe, I'm certain there would be a lot of useless comments.
People will simply not do something, which they cannot see how they would later benefit from. Classic CSCW problem.