dop2000 is basically correct, but there are really 10 "Wait 0.5s" at the start - but they all run in parallel. So it's the same as if there was one "Wait 0.5s" at the start.
Internally, you are creating ten "Wait 0.5s then add 1 to variable" operations, which all run in parallel so all the waits happen at the same time. This has the same effect as "Wait 0.5s then add 10 to variable".
If you do something like "Wait loopindex * 0.5
seconds", then you create a sequence like this:
Wait 0.5s then add 1 to variable
Wait 1.0s then add 1 to variable
Wait 1.5s then add 1 to variable ...
These also run in parallel, but they finish at different times, resulting in adding 1 to the variable every 0.5s.