The Chromebook’s user partition is read-write, and the system is read only (save for updates). The “powerwash” factory reset just wipes the user partition. The OS restore (if you can call it that) is not stored in boot flash, just standard data/nvme disk.
If you wipe the whole disk, you still need to use a bootable restore USB to restore it.
This has nothing to do with the fact that it is UEFI booting.