Font files containing each character as vectors. There is an option in inkscape to create somekind of fonts -svg fonts-. You can assign vector shapes-glypths to unicode characters.
The feature is lacking a bit because even inkscape cannot use those svg fonts. Some browsers may support them, at least there are plans on making svg fonts available. A benefit would be using characters with multiple fills, that then could be stored in css.
The svg fonts are easier to import to fontforge, otherwise you would need to open each character one by one. Other things that font files can adress, like ligatures or hinting can be added there, then you can save your work as a new font file.
So yes, fonts are vectors with additional info. But not all font formats use the same kind of cubic B?ziers you see in inkscape, truetype is based on quadratic B?ziers.
https://fontforge.github.io/bezier.htmlTexts on screen are stored as vectors -like, you can zoom in to this page and the characters are scaled up without pixelation.
The mentione translating is based on text, they could hardly bear raster images. Like, they would need a sepate background without the text flattened to add anything on top.