It doesn't copy whether that Equipment is tapped or untapped, whether it has any counters on it or any Auras or Equipment attached to it, or any non-copy effects that have changed its types, color, power and toughness, and so on
Modern-day exile effects tend to be flavoured more like being removed from this plane of existence with a magical portal or something
Angling a card slowly under a strong, direct light source before submission is the single most effective way to identify this type of surface wear
re-triggering an EtB effect on your own cards, untapping a land to gain an extra mana on your opponent's turn, giving a creature psuedo vigilance, killing a token, resetting planeswalker loyalties, preventing a creature from blocking, resetting a level up, evolve or otherwise growing on investment creature, unflipping flip cards, regaining control of stolen cards, refreshing depletion cards such as the new sagas, lowering a land count periodically to empower effects like Tithe, and possibly some more