Well, it's not really meaningless, because it does address the basic error in this particular myth, which is precisely that the shape of the wave, in and of itself, can damage the speakers. The error is in believing that a square wave, simply because it is a square wave, is inherently damaging to speakers. You may not believe that, but I can assure you that many people who have posted here do believe it, and that's why JimmyM listed it as a myth. If this myth were true--that is, if the mere shape of the wave that hits the speakers, irrespective of anything else, were enough to cause damage--then a square wave from a synthesizer, or a fuzz box, would be just as likely to damage a speaker as a square wave produced by an amp in heavy clipping (assuming the amp is even getting to the point of producing a true square wave).