That comparison is apples to oranges, because React components are typically much smaller than Vue components (think 20 components in one file). So while its true that a state update will rebuild an entire component, that diff might still only impact 2-3 dom nodes.
For high frequency updates such as reacting to mouse interactions, you can compose components in such a way that only one small component handles the high-frequency update, while it's siblings and children remain static.
In this way, React-components are closer to Vue's computed properties than Vue-components.