The general rule of thumb for refresh rate improvements is actually a Hz doubling.
On typical flickerfree displays like LCDs and OLEDs (not low persistence flicker displays like CRTs), doing doubling Hz halves motion blur.
You need 240Hz to halve motion blur lf 120Hz, and get one-quarter motion blur of 60Hz. Visibles remained huge on the ASUS 360 Hz monitor at CES 2020, which had one-sixth the scrolling blur of a typical 60 Hz office monitor.
Nubia has installed the world's first 144 Hz display in a gaming smartphone in the RedMagic 5G. But does the high energy consumption and the associated short battery life justify the smoothness of the Nubia mobile phone?