The fish version of history search doesn't just do a simple substring search like in bash. It's already more powerful by doing a subsequence search. See https://github.com/fish-shell/fish-shell/pull/9476
fish suggests commands as you type, shown as faded text after the cursor. But suggestions aren't replacements for history search. Only one suggestion is shown at a time, and you don't have much control over what is shown.
It's popular though, so it's also available in zsh through the autosuggestions plugin.
> What does 5408 mean and why is it taking up valuable screen space?