Yes, their only point is that it looks better "in their minds", as you say. This feature in particular isn't meant to improve performance.

Personally I think the more subtle application of it can look pretty good, but it seems hard to control and does more harm than good. And that is even ignoring the massive performance impact that almost guarantees it to be unusable. Nvidia published some performance numbers that looked impressive, but that was using pretty agressive upscaling and 6X frame gen which is stupid because for frame gen to be decent you need a high base frame rate, which they didn't get on anything other than the 5090 and arguably the 5080, or by pairing the GPU with a lower resolution that doesn't really make sense for them (like you wouldn't normally buy a 5070Ti for 1080p).