Running a millions of loops within Shopify (or really any platform) is rarely a good idea but there's times that I like adding a code with a loop with a single iteration. This means it's not really looping at all, but it comes with a nice little bonus.
The bonus is quite simply the ability to use the {% break %} tag. This helps me avoid having to wrap things in next if/else statements and just cancel processing any further code within that loop.
{% for i in (1..1) %}
{% assign test = product | default:false %}
{% if test == false %}{% break %}{% endif %}
Test is True!
{% endfor %}
I'm not sure if this offer a performance benefit or not (I'm going to boldly say yes here with zero testing), but for the sort of code I've written it makes things cleaner.