I think what is intended in general are comments in the form of:
// Start the loop.
while ( have_posts() ) : the_post();
[..]
// End the loop.
endwhile;
And yes, that is an actual example from a real codebase.This is an extreme example, but quite a few of comments I see are very redundant. Sometimes comments are useful to split stuff up, but stuff like "start loop", yeh nah. It's just a random stray comment, probably as an artefact from when the author was gathering their thoughts and/or took a break.
Even worse are comments that are just confusing, or don't match the code.
I've done some literate programming, and I find it interesting for certain types of programs and/or if you're struggling with something. But I think that for a lot of stuff it's redundant.