The function of a CVT gearbox is only to vary the torque and speed of the wheels relative to the engine.
The purpose of the Toyota hybrid drive is to send energy where it’s best sent, and as a side effect this varies the ratio of road speed to ICE speed, so I reckon that it’s quite different. It just feels the same under many circumstances (but not all).
I’m well acquainted with how the system works, where I’m filling in the blanks is the relationship between charging the battery whilst cruising and throttling back. If you have a SoX lower than the target (something like 70% or 6 bars out of 8 on the display) and cruise at say 60mph it will give about 50mpg for a few minutes and then jump to 75 or so. It’s clearly stopped generating electricity at this point and list now be limiting engine speed the traditional way. The question is, is it doing this because the battery is effectively full and it has to, or just because it is now more efficient?
The fact that it generates whilst cruising at a cost of instantaneous economy suggests that it does this be wise the overall energy output (cruising energy +battery charring) is higher than simply waiting for regenerative braking to refill the battery.