Ah no it’s apply transform not behaving as I’d expect.
Why would the output spread count of apply transform not be directly proportional to the number of transforms * the number of vertices being transformed?
ApplyTransform behaves the way that all nodes that accept spreads behave. That is that they match up slices of in a 1-to-1 manner between inputs until the max number of slices of any input spread is reached (repeating other input spread slices as needed). This means that if your input takes 72 slices and 2 slices you will get an output of 72 (not 144).
If you want to get more output matrices that this you need to repeat you inputs so that they match up correctly to reproduce the output you want.
Sorry if this sounds a bit obtuse. It took me a while to get my head around it.
I attached a patch that I think fixes your issue. Hope that helps!