It only shows some few % in Gears 5 (I tested it myself) and only in resolutions like ~5120x2160 if I remember correctly, it's way less difference in lower resolutions (that are actually used on consoles). In any other game performance gains are very low.
DLSS, temporal upsampling and FSR affect image quality but at least they give 50% and more framerate for what they're doing (and in the case of DLSS, sometimes it's better than native and TAA).
Some games will benefit more than others, but there's a gain to be had nonetheless, this will be even more significant in a closed box with limited resources, you were likely running these tests on a very powerful rig with an extreme amount of overhead on a game that's not necessarily the best example.
Also, FSR will of course show a much more significant framerate boost, but they're not competing with each other, you can have both FSR and VRS T2 for maximum benefit.
For consoles later down the road when you're struggling to hit your target framerate, you're going to appreciate a boost in performance wherever you can get it from, but I was only responding to someone who was expecting better
image quality from VRS T2, that's not what VRS is there for, in fact just like FSR, they will degrade quality, FSR everywhere because it's dealing with resolution in general, but VRS T2 only in areas where the player won't necessarily notice, but in focused areas the level of shading will be at maximum quality.