Loops generally run at line level, not guitar level, plus all the pre-amp distortion will have been generated at the point the loop is inserted.
So generally speaking, you're slamming the front of an overdrive with a massively loud and clipping signal. Overdrives are designed to receive the weak and clean signal direct from a guitar, so in a loop they usually sound completely shiteee.
I personally don't buy the clean boost in a loop theory for the same reason. Only something designed to work at line level will generally work well in a loop e.g. rack effects and a select few stomp boxes.