I think we should draw a distinction between what sounds loud, and sound pressure level, as they are two different things. Also, the distortion as written about herein this thread (occurring in speakers as the volume is raised at and above 95db) is occurring in the *higher frequency band* (above 2K) as measured by sound stage. Those higher frequencies aren't necessarily the dominant factor when it comes to SPL.
In other words, I submit to the group that one CAN produce (hypothetical example) 100 db without much if any distortion, AND it may not sound (very) "loud". How so? Simple. Play music whose content is primarily lower frequencies, drums, organ, etc. If vocal and higher frequency sounds are absent, you'll have your high SPL, little if any distortion and it likely wouldn't be perceived as "loud" as if you had played a vocal track and then achieved the 100db on the basis of the vocals.
In other words, I submit to the group that one CAN produce (hypothetical example) 100 db without much if any distortion, AND it may not sound (very) "loud". How so? Simple. Play music whose content is primarily lower frequencies, drums, organ, etc. If vocal and higher frequency sounds are absent, you'll have your high SPL, little if any distortion and it likely wouldn't be perceived as "loud" as if you had played a vocal track and then achieved the 100db on the basis of the vocals.