Decent quality ones aren't, they give true RMS output powers at low distortion, and across the entire audio bandwidth.
Going back a VERY long time, I had a 'classic' Leak Stereo 70 amplifier, these were rated at 35W per channel RMS at under 0.1% distortion (as I recall), but were capable of well over 50W RMS per channel at higher distortion levels. I've seen many of them used as PA and Guitar amps, and used mine for PA many times.
That's how HiFi amps used to be rated, and it's still true today for decent quality ones.