True, But a driver frame cap is still relatively a crude way to handle the problem:
-You will have to set the cap below the monitor refresh rate. As it's not 100% accurate so If you set it exactly at the monitor's refresh rate it can still go up beyond it and introduce Tearing.
-The cap will introduce a small additional latency penalty, since you are rendering below your refresh rate, and also introducing a slight driver overhead.
The Adaptive V.Sync technique will avoid both problems, no tearing and no latency penalty. You also enjoy maximum fps in accordance with your monitor's refresh rate. It's the right way of handling the problem.
I found this comprehensive video comparing different methods of adaptive refresh rates and how they handle this problem specifically: FreeSync, G.Sync, AMD fps cap, Riva Tuner fps cap, NV Inspector cap, and the integrated game fps cap.