it ultimately depends on what it's trying to do I guess.I re read my post and I don't think I clearly made my point. On current nVidia hardware, DLSS is performed using the tensor cores. Separate parts from the normal rendering pipeline. There is a performance penalty because the process of upscaling takes time. But if you are rendering a 720p image in 12ms then as long as the scaling takes 4ms or less you can hit a 60hz target. If the same image takes 12ms on current AMD hardware, once you start scaling there is the same scaling penalty (maybe more if the int8 performance is lower on AMD hardware and the scaler is the same), but you are also using the same hardware you would be using to render the scene to begin with. That would imply a performance penalty to the original scene render.
My expectation for a solution coming from AMD/Xbox/PS5 when compared to DLSS would be that it will be a more simple, more universal form of upscaling that is slightly less performant with "close enough" quality but still worthwhile.
DLSS does 2 things in particular. The first is that it supersamples AA to 16x IIRC. The second stage is to upscale to 4K. That combination is 2 separate networks if I understand correctly, so the AMD version isn't necessarily required to do that. It can just do the AA or the upscale and save some time there.
The other thing to consider is that yes, for 16.6ms the AI upscale might be tight lets say it's 6ms to perform instead, but for something like 33.3ms it's more than enough time for it to do both. So heavy graphical showcases will still be able to run at 30fps since upscaling is a smaller fraction of a much larger frame time.
The quality of the AA and the scaler will ultimately come down to the model and technology (where in the engine it does its work). So, you can use the same hardware, but you're unlikely to generate the same thing as nvidia. Many have tried to replicate DLSS (facebook and others) using the same hardware and have gotten no where close. So by that point alone, yes, I would agree that the output won't be the same. It will likely be different and have it's own characteristics.