Nope, only a single child process is created, and the parent and child go into an infinite loop. And two processes stuck in finite loops do not fucked memry make.

Both processes resume after the fork call, and both go into the loop. Only the return value from the fork call tells you which process you're in.

It is somewhat idiosyncratic that the snippet uses both while (1) and for (;;) for infinite looping, which seems to indicate less than total familiarity with C.

No -- both processes return from the fork() call (with different return values).