If SVG gets converted to meshes, then... "yes", you can zoom in and out without too much loss, but there is a catch behind the scenes. For example, take a circle. Flash would render it as a perfect circle because it uses formulas to fill an image (no wonder why Flash is slow). On graphic cards, a circle is rendered with a polygon that has enough sides to be seen as a circle. You can zoom in and out of the circle without seeing "blurryness", however, you might be able to see the edges of the sides, depending on how much precision you have.
Converting SVG to meshes is basically the same as Flash would do when it renders vector graphics, however it will be done through approximation of all drawings by the use of polygons, that you can make more or less numerous for precision.
Textures are another matter. They will always have the same precision problems when you zoom, wether you draw them with Flash or Godot. If you vectorise them they will become lossless, but you still loose information in that process, they will look different.
There is a tradeoff to take. You can use SVG converted to meshes, but if that process produces too much geometry, then you are better off with a texture. However if your graphics are simple enough, they might be eligible for polygon-based vector graphics.