I am a bit confused at the concept of implicit differentiation. Say we have this question:
So I guess the implication here is that y is a function of x?
Is that that why $\frac{dy}{dx}$ of $\sin{y}$ is cos(y)$\frac{dy}{dx}$? I'm a bit confused.
I guess this stems from my confusion about the difference between $\frac{dy}{dx}$ vs $\frac{d}{dx}$
When we differentiate a simple equation like $y = 2x$ and say $\frac{dy}{dx} = 2$, the implication here is that y is a function of x obviously which is why we can take the derivative of y with respect to x. Is the same thing going on when taking the derivative of $\sin{y} = x$? I feel like I'm missing something or that I'm glossing over an important concept here.

Yes, $y$ is a function of $x$. Strictly speaking, we are taking $\sin (y(x)) = x$, and differentiating with respect to $x$ using the chain rule to obtain $$y'(x) \cos(y(x)) = 1$$ whereupon the conclusion follows as written.
This explicit writing of $y$ as $y(x)$ is something that is often not taught at all, I'm afraid, but whenever you define $y = ax+b$, for instance, this is shorthand for defining a function $y(x) = ax+b$.