For example, if all past, current and contemplated hardware behaves in the same way, I assume that the standard will simply enshrine this behavior.
However, what if 99% of hardware behaves one way and 1% another? Do you set the behavior to "undefined" to accommodate the 1%? At what point to you decide that the minority is too small and you'll enshrine the majority behavior even though it disadvantages minority hardware?
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[1] Famous examples include things like bit shift and integer overflow behavior.