it's a modern version of asp.net web forms.
Asp.net webform where not really interactive. Any change to the UI require reloading the page.
When the client either lazy loads (on interaction) or prefetches these serialised event handlers, there is no server work at all, it's simply static js files.
Either way, that was a form of hydration itself I suppose, the server would send this state value to the client and the client would hydrate its view to match the state.