> Random equivalent-time sampling takes advantage of the nature of a repetitive signal by using samples from several trigger events to digitally reconstruct the waveform. Since sampling occurs on both sides of the trigger point, pretrigger capability is very flexible. Because repetitive signals are being sampled, the bandwidth of an equivalent-time scope can far exceed its sample rate.

https://www.tek.com/en/documents/application-note/real-time-...

Here's a more specific example: PicoScope 9400 series supports just 500Msps per channel, however it's advertising "70ps transition time and 1TS/s (1ps resolution) random equivalent-time sampling", this sort of "equivalent sampling" is presumably where that seemingly crazy spec comes from.

But you can't use equivalent-time sampling for something non-repetitive like network packets.