If Fedora is not - why is it on the same versions of code as Tumbleweed.

If you want a specific answer, you need to share the context that led you to that conclusion.  I cannot explain what I cannot see.  Any answer that anyone gives you to a question so broad and vague is going to be largely speculation.

Very probably, the explanation is going to be a mix of factors, including: the major release of Fedora that you're examining was recent, and few projects have made breaking changes since its release.  Without breaking changes, there's no cause to hold back updates to those packages.

I have multiple Fedora Virtual Machines for testing. It updates just as often as Tumbleweed. Sometimes a day later or a day earlier.

Update frequency isn't the defining characteristic of a rolling release.  The absence of defined lifecycles and predictable dates for breaking or feature releases is.