The startup volume, yes. I just did an instant Restore of some files that were accidentally deleted thanks to a really weird bug.
APFS Snapshots never captured attached drives or additional Volumes but they're backed up in Time Machine unless excluded in Options. That Restore works as it always did sorta… Enter Time Machine is gone from the menu but the replacement menu is easy to figure out but Whyyyy Apple???
The weird bug shows duplicate files in Find File — except that they're not. Trash one and Empty, they all go away. Yikes! Fortunately, Time Machine lets me recover immediately if on the System Drive, a bit longer if not.