It gives them all the files of an unlocked profile, calls and SMS history and light application data but this is depending on the techniques, OS and app support. Certain logical extraction techniques use standard ADB functionality, Android backup features, or more invasive methods like downgrading a system app to a vulnerable version (GrapheneOS closes this security hole).

If they wanted data on certain apps like messengers then manually browsing the apps and reading the messages with a camera mounted to the screen may be needed instead.

Full filesystem would give access to privileged OS data and the /data of all applications in at profiles not at rest. If there's a hot wallet app only protected by a simple PIN they could just clone that app data elsewhere and get control of the keys by brute forcing the PIN. Not usually possible on logical extractions.