Hello,
If we're talking strictly about the tunnelers, then the answer is "not really" :D. The intercepting tunneler extracts the payloads from the intercepted tcp or udp packets and sends them over the OpenZiti overlay, and the receiving/hosting tunneler creates a separate tcp or udp connection to send and receive payloads from the "server" application.
So each tunneler (hosting and intercepted) has its own tcp or udp connection with the respective tcp/ip application, such as a browser or web server. I described this in a little more detail than you're asking for here and here.