So it exists, but is the usability and functionality nearly equivalent? And the thing is that it also involves third-party software tools.

Nearly equivalent to what? It can do everything that the GUI can, if that's what you mean. Some things are obviously going to be less convenient, but that's just the nature of CLI.

And what third party tools does that involve?

What I mean is that oftentimes on Windows, I use non-OS tools or applications which are not made with the expectation that you will want to script them or configure them via text interface.