I am a bit confused about "backup-point" and "remote-XSIpath" Are these two the same? Previously, in the older version, there was no remote-XSIpath.
--backup-point=/vmfs/volumes/ABCNFS/$( date +%Y%m'00000000' ) \
No, they are not the same.
--backup-point is the path (local or remote) where your VMs will be copied to, whereas --remote-xsipath is the path where XSIBackup will be automatically copied when performing remote over IP backups, as it needs some binaries and files present in the other end to be able to transfer your .vmdk files over an IP link.