Agree.
If you also put a 120V load across Line 2 and the neutral, then
OK, you're right. If they're perfectly balanced. So lets make the Line
1-to-neutral load a 200A load (0.6 ohms), and the Line 2-to-neutral load 199A (0.603 ohms). Now we have an unbalanced current of 1 amp thru the neutral.So we have 200A thru one side of the breaker, and 199A thru the other side. So what's the total amperage now?? Is it 200A or 399A, or? It's all in how you look at it. In the end ,it's a matter of total energy or kW. 200A x 120V=24000W & 199A x 120V= 23880W for a total of 47880W or 47.88kWWith a perfectly balanced load - yes, one circuit. With a slightly unbalanced load - then, two circuits.