Yes. To pile on, if you're playing a First Person Shooter (FPS), you want at least double the Hz. It makes a difference. Additionally, there are other factors that gaming monitors offer such as brightening darker areas that are around a brighter area.
But in general, this monitor, though it's impressive, does not have the features needed for gaming.
I am lifelong a gamer, have excellent vision, and routinely fail side-by-side tests comparing frame rates in excess of 60hz. Not everyone can perceive the difference. (One explanation is that some people may be able to essentially interpolate frames well enough that the information lost is not perceptible, in the same way that you might not be able to tell the difference between 144hz and 240hz).
That being the case, I'd much rather trade away frames in exchange for improved image quality, as I'm doing in this case.
This fascinates me. I hear it all the time that some people can see the difference and others can't. I was thinking maybe it's age related, like the degrading frequency response of the ear, but many people my age don't perceive it either. I'm in my twenties and the difference between 60hz and >=120hz is like day and night. My vision is not very good, though.
I even prefer using a high refresh-rate screen for office and coding use. I notice it a lot by dragging / moving stuff and scrolling.
Lots of LCDs have exponentially more input lag when you drop them from their higher refresh rates to lower. For instance (from data sources like TFT Central or Rtings) it's common to see a 120Hz monitor have 2ms input lag but then at 60Hz it will have 30ms.
Saying 120Hz feels sluggish is also confounded since the mouse / keyboard have 8ms lag unless you use a gaming one or manually change the polling rate, and games and desktop implementations all have variable input lag up to 100ms or some crazy number. Whether your desktop has vsync is another variable.
None of this of course changes the fact that input lag on a monitor should be zero aside from the pixel transition period.
But in general, this monitor, though it's impressive, does not have the features needed for gaming.