Why does views::split ignore an empty sub-range after a delimiter if it's the last element of the input range?

For the following code:

#include <iostream>
#include <string>
#include <ranges>

int main() 
{
    std::string s = " text ";
    auto sv = std::ranges::views::split(s, ' ');                    
    std::cout << std::ranges::distance(sv.begin(), sv.end());
}

the output is 2. The empty sub-range after the last delimiter is not present in the output range.

This seems inconsistent, since I expect there to be N+1 sub-ranges in the output range if there are N occurrences of the delimiter in the input range. Why is this not the case?

Note that range-v3 does exactly the same thing, so I'm sure this is intentional, but I'd like to know why.