It's free temporal resolution if you already have a decent base framerate.

Very useful assuming your base fps is 60 or higher. Even more so if you have an RTX 50 series GPU featuring multi frame gen.
Some games have a better implementation than others, but it's generally been improving.
As with graphics settings more generally, I have a play around with it upon booting up a new game.

Will probably be leaned on by inefficient devs to justify not having 60 fps games.

My problem with lower framerates isn't input latency but them feeling and looking like crap whenever you move the camera.

Even on 30fps titles I found using lossless scaling to increase them to 60fps to be a big improvement and it's generally not recommended to use it with a base framerate that low.

I played through the whole of Indiana Jones with dlss framegen to get 120fps. I think it's a good feature though I'm less sold on MFG. I've only stuck to 2x generation.