Well, yeah, it is! That's a lot of what the GPUs do -- run fragment shaders. If one console is performing the same but rendering half as many pixels, that's a story!
I agree that we should praise image reconstruction techniques -- visuals in games just aren't going to advance without decreasing resolution somewhere, be it temporal (rendering effects with low sample counts and resolving with taa), spatial (vrs, drs), or both (checkerboarding, dlss) -- all these reconstruction techniques are awesome and should be widely adopted. But call a spade a spade -- one version of the game is doing much less rendering work than the other.
Edit: in response to your added paragraph, the thing is, you can see the difference here, and it's obvious why. Moving surfaces, things that have additional low temporal resolution, etc, are all significantly burrier and show rectangular pixels. That's not a mystery of the differing techniques, thats a consequence of rendering half as many pixels each frame.