OLED does have better response times. But it also gets a bit tricky. Since both the display and your eye introduce their own blur (and the source can have blur too, in the case of film).
Higher frame rates reduce the effect of eye-induced motion blur.
Faster refresh times reduce the effect of display-induced motion blur.
One issue I personally have with OLED is that lower frame rate content has a different kind of blur than with LED. LED's slower refresh time happens to pair well here, smearing the frames a bit during the transition. It looks a bit like how fast motion is captured by film. OLED on the other hand, doesn't smear the frames, so at least my eyes tend to see it more like two distinct frames overlapped on each other. This effect diminishes as frame rate increases, since it is eye-induced blur.
Of course, if you insert black between frames, you can also attack eye-induced motion blur without having to increase the frame rate, although it doesn't make the motion any smoother, just clearer. CRTs and film projectors do this. Some flat panel TVs also do this.