Let's say we have the basic feedback system of the picture
We know that the closed loop transfer function is given by $$T(s)=\frac{G(s)}{1+G(s)H(s)}$$ Now, the diagram above is equivalent to an open loop diagram with this transfer function .
Here's my problem . In the first diagram it's clearly a feedback system while in the second there is no feedback . How is this possible if these are equivalent ? Can a system have feedback or not depending on the perspective? I'm confused .