Do Tek and Keysight use a similar technique for bandwidth limiters? Seems like something that wouldn't require hardware to accomplish really...
Yes, the big brands (Keysight, LeCroy, Tek, R&S) use a similar approach (hardware filters).
It's also simpler to do in hardware than in software, because you can't just tell the scope "ignore any signal about XXX MHz". You would have to filter out signal components over the desired cutoff frequency, which usually means you have to employ FFT which is pretty compute-intensive and would slow down your scope a lot.