The definition: Full state—A binary file that includes a snapshot of the entire system. You can use the file generated from this backup to restore the system during disaster recovery. This file can restore or rebuild the configuration on the original fabric interconnect, or recreate the configuration on a different fabric interconnect. You cannot use this file for an import.
These are 'configuration' backups only, and do not include firmware or underlying NXOS/UCSM binaries, etc
VMware snapshots are significantly different in function, and apply to the guestVMs and actual data at your OS level for guestVMs running on your Hypervisors.