[apetresc]

The way match/tournament rules work, when you have an infinite loop you can pick any number of iterations, but it has to be a number, not "infinity". Which means that the interaction of two infinite combos comes down to which one occurs with priority over which other.

If the elf deck can gain "infinite life" at instant speed, then they'd win over a goblin deck that can deal infinite damage at sorcery speed, because whatever number the goblin player picks, the elf deck can pick that number squared, for instance.

If both players can combo at instant speed then it's an impasse and they have to jockey for who can put their opponent in a position where they're tapped out, etc.