Isn’t Redux just glorified global state?
Of course it is. But the same holds for every database you have ever used. It is better to treat Redux as an in-memory database – which your components can reactively depend upon.
Immutability enables checking if any sub-tree has been altered very efficient because it simplifies down to an identity check.
Yes, your implementation is efficient, but the entire virtual dom will have to be re-rendered each time the tree is manipulated somehow.
If you are using React, it will eventually do a diff against the actual dom and perform minimal batch-optimized manipulations, but the full top-down re-rendering is still inefficient.
For an immutable tree, stateless components just have to check if the subtree(s) it depends on, differ in identities compared to previous value(s), and if so – the rendering can be avoided entirely.