Snapshot params do achieve half of what channels do, just not in as convenient way and without the ability to have a whole different model. I actually liked the way Hotone handled this where it made a clear distinction between "main scene" and other scenes, where it would not let you e.g change models or move blocks in other scenes but allowed you to alter parameters, including showing if they are altered. Made it pretty easy to understand what scenes were doing.
But ultimately I found I used the Fractal channels feature mostly for comparing different things and switching amp/cab models. It was pretty rare that I used channels in most effect blocks after initial testing.
My guess is that the HX platform in its current form is not suited for this, considering some of the more complex models like the Revv are still split into 2 channel models.