How does this compare to a Keithley SMU?
It is a 2-quadrant power supply vs a 4-quadrant device. The NGM can be programmed in 1mV or 0.1mA steps. A typical modern Keithley SMU in contrast can be programmed in 500nV or 500fA steps (although this varies on the model).
They honestly are vastly different tools, and an NGM would be not be a suitable replacement for a SMU imho. Although if you have something more specific in you are interested in how they compare, I might be able to shed more light on it having worked with related tools.
SMUs can also be fill the following roles within their V/I specs:
Power Supply (so can NGM)
Load (both can sink I, SMU can also sink V)
Voltmeter
Ammeter (less than 100uV burden voltage, so much better than most DMMs)
Ohmeter (this is just a calculation done on sourcing/measuring V/I or I/V)
If you are really interested in a device to do battery simulation, then you need to consider getting both the NGM and a SMU. You would need a device like an SMU (or something else) to characterize batteries to provide profiles for the NGM to use (if a profile is not already provided).