It seems to me we usually have the "Otherwise" at the start of a bullet, but @zygoloid should decide.

See #122 for a related issue.

We also have , otherwise a the end of items elsewhere, and we also have items like \item foo bar, otherwise.

I wonder whether this is something that needs to be changed for "more consistency". It seems perfectly understandable as is. I don't quite feel a strong need for prescribing precise wording structures for such a large and loose category of statements.

For human readers this is ok, but the sentence boundaries are interleave with bullet boundaries here. Other lists having , and, , or, and , otherwise at least don't splitting sentences.
IMO, we'd better at least change . Otherwise to ; otherwise.

Editorial meeting consensus:

If you have a ". Otherwise...", the "Otherwise" goes at the start of the next bullet.

Fix [variant.assign] and [variant.swap].