Image vs. Artifact

I'm studying system design and thinking about classical CI/CD pipelines (this may be more of a docker question). We build and test an artifact and store that artifact somewhere after validation right? In newer models I often see Docker being used.

A docker image is created for an application and I understand that it it holds the source code and minimal OS as well. Does storing this docker image in a repository act the same as storing your artifact in the classic pipeline? When something goes wrong in prod are you able to roll back just using the previous docker image?