Mostly it wraps system calls and library calls. Wrapping means that it does some checking or recording before and maybe after the call. Very occasionally it needs to modify the arguments to the call. The rest of the time it passes the arguments on to the kernel or libc/libpthread/C++ lib.
There are also functions and syscalls that it needs to replace. That needs to be a fully functional replacement, not just looking the same as in mocking.
I don’t have any exact figures. The number of syscalls varies quite a lot by platform and on most platforms there are many obsolete syscalls that are not implemented. At a rough guess, I’d say there are something like 300 syscalls and 100 lib calls that are handled of which 3/4 are wrapped and 1/4 are replaced.