IMHO EXT implies extension.
As far has comparing to Fender amps...you have to consider variances from model to model. Most vintage Fender amps only had one output tap. If you ran the recommended cab it provided the expected impedance. If you two of the matching cabs the impedance was half of what the amp expected...this will reduce how much power the amp can make and increase wear, but it is how the amp was intended to be run.
Some silverface Fender amps has multiple output taps and switching jacks similar to the Sunn, but not necessarily exactly the same.
For example the Bassman 135 has both a 4 and 8 ohm tap, but it puts the tips of the jacks in series instead of parallel.
To provide the expected load, plug one 4 ohm cab into the Speaker out. If you plug a cab into the EXT jack, it lifts the connection off the 4 ohm tap and the tip is connected to the 8 ohm tap. Since the jacks are wired in series you need to connect a 4 ohm cab to each jack. If you want to use a single 8 ohm cab, use only the EXT jack. The works because the Speaker jack has a switching contact that shorts the tip to ground unless a plug is inserted.
My point here is you need to know specifically how your amp works, instead trying to rely on a general rule. The output transformers in old Fender amps are considered fairly robust and they supposed to tolerate 2:1 or 1:2 impedance mismatches fairly well. But this is not true of all amps. Some amps work well with 2:1, but it may be risky to run 1:2. Some amps are the opposite and work well with 1:2, but may not tolerate 2:1. Some amps are risky with 2:1 or 1:2. From a reliability standpoint, always best to show a tube amp the expected load.