if none of the above were true then why would we not all have 1 fan,120mm rad and $4 pump off ebay
The cheap stuff may not have sufficient cooling capabilities (flow, fins, fans, whatever) for your individual rig, though. A 480 rad will cool better than a 120, so we get those. More fans move more air over more fin surface areas.
You're also limited by what you have space for in your individual case. The kit matters more, which is why a custom loop and even some air coolers will both beat AIOs, for example.
But so long as there is a heat transfer taking place, the route isn't so important.
This is why Kapstaad's loop might go Pump-rad-CPU-rad-GPU-GPU-GPU-GPU-GPU-GPU-GPU-GPU-GPU-GPU-GPU-GPU-GPU-GPU-GPU-GPU-pump.
OK, I exaggerate - He only buys 8 of each new GPU!

But SLId/X-Fired GPUs generally connect through each other, rather than having seperate branches from separate rads for each one. It could certainly be done, but the temps would not be massively different as what you're feeding in is the same throughout. It matters more that you take that heat away. The nature of a closed water loop just means you then have to cool it back down before it goes back to the blocks.
Think of it as taking heat away, rather than feeding cool in.
Doesn't really work with my understanding of thermodynamics to be honest. If the temp of fluid entering and leaving a block/rad is the same, then no heat transfer is taking place.
The transfer takes place in the rad, which is after the pump, which is after the block. What goes into the block is not as important as how much heat leaves it.
Some temp does drop along that route as well, though it's quite low.
However, some temp is also created, by the friction of the water against the surface roughness of the internal bore of the pipe/tube... and I fell asleep through the rest of the explanation, heh heh!!
It would seem that the temp difference is not enough through practical experience to cause much loss in efficiency from going block to block rather than block rad block, but the fact remains that it is less efficient to some degree.
Not any degree to make a sufficient difference to warrant buying loads of separate loop branches. You can go in pretty much any loop order you want, so long as the res is above the pump to avoid air getting in.