Yes I know the difference between FPS and Hz, and what causes them, and that they are independent of each other… But in a hypothetical world where they were in sync at 120fps/Hz, it would mean that the GPU process the game visuals and sends it to the monitor every 8ms, and the monitor refreshes the image it produces on itself every 8ms. So let’s pretend we live in a hypothetical situation where they are in sync, so that this passing of information happens smoothly and there is no waiting for one or the other to catch up.
In this scenario, we can compare apples to apples now. If I hadn’t said “let’s pretend… your monitor and your GPU are both in sync” we couldn’t determine if ping affects performance since too many other variables were at play.
But from what I read in a very detailed post, ping does affect gameplay, and having a refresh rate higher than your ping would be irrelevant if it wasn’t for interpolation. So due to interpolation, higher FPS/Hz does help game performance