Correct. I am using the postbit template and not postbit_legacy.
I typed in $post[postcount] in the postbit ---
It put 5 "$post[postcount]" underneath the first post but not under any other posts (I'd expect it to do it under EACH post, not at the end of the first post).
I replaced the $post[postcount] with {vb:raw post.postcount} and refreshed, now under the first post I see "1 2 3 4 5" --- There are 5 posts in this thread.
Edit: I have also disabled all of my modifications to see if it was a mod and I am still able to produce.