Tony,
I am sure people are using it like that. But keep in mind, BIAB Real Tracks are much more than loops. If you chop a loop, that is what you will have, a loop. You will have some control over it, but changing it drastically will make it sound somewhat unnatural. With BIAB it lets you regenerate a different takes of same section. Variants of same section - that is actual recorded take, not overmanipulated static WAV. If you are not there yet, I encourage you to explore a feature that is called Partial Regeneration. One of the best features BIAB adopted in recent years.

Think of it as a loop in a liquid form, while it's in BIAB.