Most people misunderstand this aspect of it; 'wait' does *not* suspend the whole event sheet, because it would be useless if it did! (Imagine if your game paused every time you used a Wait action)
So if you have something like this:
+ Repeat 10 times
-> Wait 1 second
-> Append "Tick" to text object
then the loop completes immediately, but schedules ten "Append text" actions all after one second. After one second all ten of them run. Note the original example uses loopindex so it sets up a 0 second delay, then a 1 second delay, then a 2 second delay, etc. whereas you use a constant delay, meaning the entire loop is basically done instantly after a single delay.
Edit: updated the tutorial to make this clearer.