The \Magento\Config\Block\System\Config\Form\Field is the default frontend_model for a backend configuration form field.
As a frontend_model, it implements the \Magento\Framework\Data\Form\Element\Renderer\RendererInterface:
The interface considt of the single method render:
Here is the \Magento\Config\Block\System\Config\Form\Field implementation of the render method:
So the \Magento\Config\Block\System\Config\Form\Field implementation of the render method is a decorator for the form element’s getElementHtml method.