The “literally cuts power” to the master switch is how many nonnetworked three way switches are wired. It’s a sort of figure 8 on its side and when one Switch completes its side of the circuit the other switch is dropped out of the circuit.
Obviously, this will not work for network switches where the master needs to have power all the time so that the radio can hear the next on switch.
For this reason, network switches off and have to be wired somewhat differently then the switches that they are replacing.
Why don’t you take a look at the GE wiring FAQ and see if that answers any of your questions. Although I think the Zooz does allow for the possibility of using a dumb auxiliary switch, which the GE does not, the basic wiring concept is still the same.