Traceroute does not show you every hop in your network, but rather only shows you how many layer 3 hops are being made.
A simpler way to understand it is that any network device that does not decrement the TTL will not show up in a traceroute as this answer on the Network Engineering Stack Exchange site explains:
Any device, that does not decrement IP TTL field value is not going to
show up in the traceroute path. For example, Cisco ASA Firewall can be
configured to decrement the IP TTL field for packets traversing the
firewall (set connection decrement-ttl). By default, the TTL is not
being decremented, thus hiding (well, somewhat) the firewall.
More insight can be gleaned here on this DSLReports page titled, “Should I use Layer-3 switch or router?”:
In general, you want to use a router when most of the time the device
does routing. Likewise, you want to use a switch when when most of the
time the device does switching. This statement becomes more apparent
when dealing with larger network like an ISP or large corporation.
As well as this discussion on Reddit titled “Router vs Layer 3 Switch: What's the difference?” and specifically this answer from “Xipher”:
It's not really a functional difference. To me it's based on primary
purpose.
An L3 switch routes, but usually with a much smaller routing table,
and can only support a single a single set of VLANs. It's
functionality will probably be pretty limited as well. Some switches
are supporting a limited set of MPLS features, but that's mostly in
the data center space.
A router can usually support a lot more routes. Most handle about a
million or more IPv4 routes for current routers. Some will support
switching, and even support overlapping VLAN space for the purpose of
carrying customers L2 tunnels. Additional features like MPLS
applications are also more common with routers.