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as far as I know, Facebook is targeting people with the highest chance to do the desired goal. This means in the case of conversions marketing objective, FB algorithm will be searching for people with the highest chance to make a purchase while for the marketing objective traffic, FB algorithm will be targeting the ads at people with the highest chance to visit your website.
If you use the same target audience in both campaigns, it might happen that the ad will be shown to the same people, however, in my opinion, the ads will be shown to different people as some people are more likely to make a purchase than just visit the website.
Thank you very much. I understood that "clickers" or "action takers" are different people than "lookers" or "lurkers," and figured that FB would show conversion ads to the people who were known 'action takers," even though both ads were targeting the same demographic and other characteristics. Thank you again.