Anything that affects the frequency response will affect the feedback system response, and that includes any filters applied at the signal input or output. You might see 12 to 20 turn coils in series with the output of class ab amps like Haflers, they are limiting the hf open loop response (explicitly to prevent the whole thing from becoming a hf oscillator).
The difference between an oscillator and an amplifier can be slight!
If, for example, the feedback loop of an amplifier had an inadequate stability margin within the frequency band of its intended range, I would expect its distortion performance would reveal that.
I was simply using loop stability of an example of where squarewave testing is actually useful to a designer on a bench during development. At the same time, there is zero chance my peer group would have even considered the release permission of my ultimate design, without both a paper analysis of the frequency sweep expectation of a Bode plot analysis (gain vs phase vs frequency analytic sweep…we had to do that on paper at the time) combined with a frequency swept feedback loop measurement of gain vs phase that agreed.
We used square wave load testing to determine whether or not it was even worth the time to measure the feedback loop…it was the coarse quick try and not the acceptance test.