Yes. I purchased and used GenFrac for one project, involving odd images that were originally quite low resolution. For this particular project, GenFrac seemed to add some weird artifacts -- sort of like 3d triangular surfaces. Normal PhotoShop upscaling gave better results. However, this may have been because of the particular image set, or because I did not experiment enough with all the settings in GenFrac.
It would probably be an entirely different situation if you had acceptable source material from the start, and wanted to upscale REALLY BIG, like 10x.