...is that every extra device in the signal path is detrimental to the sound.
I have been of similar understanding, but I would say "...is that every extra device in the signal path is influencing/changing the sound" rather than being detrimental to it.
In such a case, it is almost expected that the device OP is mentioning gives her/him results he experienced and liked even when set to "flat". It is probably influencing the sound and it is probably in the direction he likes. After all, that is what that particular component was designed/invented for. To change the sound, not to leave it untouched.
One thing that many people on these forums rarely mention is about tweaks etc. It comes across as if tweaks are always for better which is hard to believe.
To answer the question, I do have a tape loop, but am not using it and have no real interest in adding EQ somewhere there. Primarily because that would mean more work. I am fine with just bass/treble which I barely use anyway. Loudness button is something else. It is a darling.