This feature is basically the same as what underpins the reflink feature that btrfs has supported approximately forever and xfs has supported for at least several years.
But, it still has to duplicate metadata which depending on the amount of files may cause inconsistency in the snapshot.
1. Snapshot LVM volume
2. Mount the LVM volume and back the snapshot up somewhere else
3. Delete the snapshot as soon as possible
Otherwise you're going to lose a ton of performance.
[0] https://www.percona.com/blog/disaster-lvm-performance-in-sna...