One clarification. I was speaking of graphic design on a professional level, where iteration isn’t usually versions of the same thing. Rather, it’s a whole bunch of divergent versions/ideas/looks (additive), where each may then may be iterated on (additive), and then refined (subtractive), and only the best are chosen to share (subtractive). Often, this is only the first stage. It may be repeated over and over.
Sometimes in our office when you have left it all on the table - blood, sweat, and tears - feedback may be “that’s a good start…”. And it’s back to the well for all new fresh work of the same thing.
And, this is all pre-client. Clients are brutal in their ignorance. “that’s it?”