The generating functional is defined as: $$Z[J] = \int \mathcal{D}[\phi] \exp\Big[\frac{i}{\hbar}\int d^4x [\mathcal{L} + J(x)\phi(x)]\Big].$$
I know this object is used as a tool to generate correlation functions by taking functional derivatives, but does it have any interpretation on its own? In this post the answer states that it can be interpreted as the sum of all possible Feynman diagrams. Is this interpretation from Taylor expanding the exponential in $Z[J]$?