This was my assumption as well, and I saw no evidence of an issue in any of my initial measurements. Then one day I listened to a sweep using a 2.0 YouTube test clip, my system would dip in output at 120Hz.
I just tried the clip again, the dip is gone. So I don't know why I was experiencing that issue before. Perhaps it was fixed in an update, perhaps an issue with my prior ART setup (I added a sub in the interim necessitating new measurements).
This is good news though. I guess the question is whether or not the positioning of the LFE channel relative to the other channels is the intended behaviour or not. I would imagine it is, but if others want to experiment with delaying their subs, I'd be interested in what affect it has on the response.
EDIT: Okay, interesting, I got to the bottom of the inconsistency. I use an Apple TV, Apple added a new audio option called "continuous play". With this active, the Apple TV plays all content in the Dolby MAT PCM format so that there are no audio breaks when switching content. When I switch continuous play off, the dip is back!
Working theory, in continuous play mode the AVR sees a multichannel input with active LFE channel, playing signals as assigned, so stereo sent to L & R only. With continuous play off, the AVR's stereo bass management sees the incorporation of the LFE channel?