Yes!
This is a sensible precaution!
Often, "back in the day", preamps (whether in a receiver or not) had something called a tape monitor loop - the output (sometimes labeled REC) would go to the tape recorder deck and if you had a three head machine you could feed the playback from the recording back into inputs (sometimes labeled PLAY) to complete the loop. On the front was switch labeled "source" and "monitor" which allowed you to monitor your recording quality as it was being made!
If this is the case, the output is not variable as you do not want the signal going to your recorder to be subject to changes in the system volume control, mute, or bass or treble, etc.