OLED advantages could be seen in black levels mainly in low light when the higher contrast ratio would be evident. Also, the battery life improvements when using the phone in dark mode which turns off pixels not being used.
60Hz > 120Hz is a display “performance” enhancement and quantifiable. You could say it is subjective in terms of whether users notice it or not but anyone can see this clearly if recording both a 12 PM and 13 PM with a high speed camera and comparing the frame rates.
I understand the difference with OLED but it wasn’t as massive as so many enthusiasts here bragged about in my experience. I’ve got an iPhone 12 and an iPhone 11 for work and the difference when using them is barely noticeable for me. It wouldn’t bother me which I had, yet for years it was almost a bragging right on tech forums. I was happily unsurprised when I got the 12.
There will be a difference with both types of technology without doubt and it’s only beneficial to the user if they see a difference and some do and some don’t.