This commit updates the `is_device` function to correctly handle
loop devices.
The function now validates loop devices when they are explicitly
allowed, by checking their type (`loop`) in addition to `disk`
and `mpath`.
Changes include:
- Extending the type check to include `loop` in the list of
supported device types.
- Enhancing the docstring for better documentation of the
function's purpose and behavior.
These changes ensure that loop devices are properly recognized
and handled when configuring OSDs in ceph-volume.