My understanding is that one of the reasons that low feedback may be beneficial, is that the feedback is very slightly out of time with and that the human ear is extremely sensitive to this.Its not a timing issue so much as a matter of distortion generation (while suppressing feedback, it adds some of its own). But the ear is indeed quite sensitive to this, because the distortion generated are higher ordered harmonics and the ear uses those to sense sound pressure. Combine that with how music energy is distributed over frequencies and that's about as sensitive as it gets due to the Fletcher-Munson curve!
Like all things, I am sure that the selection of feedback is a compromise, as is everything concerning the design of an amplifier right down to the quality of components and build quality.
I prefer zero feedback, but 20 db of feedback is easier to listen to than 10 db or so. There's a sort of 'in-between' hump where a moderate amount of feedback results in audible problems that lower or larger amounts don't have.
You are correct that there is a bit of compromise with the use of feedback, and frankly most designers fail to get it right as there are more variables than the old school formulas suggest!