For the vast majority of Amplifiers.
The same signal is presented to the drivers from Class-H, Class-AB, Class-D
The same power delivered from SMPS or 60hz transformer supplies to the amplifier...
Yes, electricity is electricity, but where a SMPS and a transformer differ quite a bit is in how that power is stored and delivered to the amplifier and in how the particular amplifier design reacts to the power it receives. We tried a couple SMPS designs in the Valkyrie and none of them had the same tone and feel as the large toroidal transformer we went with. I'm not saying that one is better than the other, but the differences can be quite audible.
During the design process, I tended to classify the differences as the SMPS having a very tight, more immediate feel, especially when you would slap or pop. The toroidal transformer had a bit plusher, looser feel and more of a compressed sound as the amp got louder. I felt the transformer gave me more of the qualities I like in a tube amp over the SMPS. My engineer got into a million details, way over my head, as to what was happening here, but essentially, he said I was pretty much right on with my description.