An application restore will go through the network and not the DirectSAN connection. So in your case I would say, you have a 1Gbit connection? Depending on what you were trying to achive, you could to an instant recovery. While this will still use the network, your database will be back online in just a few seconds.
Something different; do I get it right, that you store your backups on the same storage as your production data? If so, I hope you're also creating backup copies or backup to a secondary device. Or else you're in risk of losing all your data.
Thanks for confirming the answer that application restore using network connection. We had to do a DB cross restore to an existing server so we were not able to do Instant Recovery.
To answer your question about having the backup data on the same volume/storage as the production data, the volume is being replicated off-site. We are also using NetApp which limits us to 16TB file size so we are unable to backup using normal Veeam backup (to vbk and vib) since the vbk would be larger than 16TB. I know this is not a good design on the part of the application/db.