Cache busting would be appending things like the last 8 characters of an asset's MD5 hash to the file name.

You end up serving logo-bad253c1.jpg as your asset file name, so you can cache it forever with nginx, and if the logo changes, the asset's filename gets changed.

With Jekyll-Assets (a plugin) all of that is taken care of for you under the hood. You just reference {% image logo.jpg %} in your templates and it does the rest when you build your site.

Doing things like converting SCSS to CSS and other optimizations are included too, but the main issue is I don't think Hugo has anything for that cache busting strategy that works in a generic way (adding a querystring is no good because a lot of proxies strip out that data).