You can also express LOOP constructs in terms of DO. However if you were to construct a more exotic iterator that is not so straight forward in LOOP (beware of edge cases), I think it is more reasonable to pick DO. I think also that your example illustrates this.
Of course to each their own. I like LOOP a lot actually when I need to do something familiar, however for something unfamiliar DO is often my choice. It also serves as a caution to tread and think carefully when I return to the code. Sometimes, after a while, I realise how to do the DO construct succintly with LOOP