yes, but the GN has literally a 50% bigger resolution, 960x640 v 1280x720, which equates to 50% more real estate. This means if a 3d game is rendered at the phone's native resolution that the phone has to render 50% more pixels versus the iphone. one way around this, and this is how console games get around their terrible horsepower limitations, is to render the game at a smaller resolution and then upscale it to match the phone's native res. This means you'd see some blurriness and maybe distortion.
bottom line is this: the GN has a resolution that is common for many laptops. expecting a phone to have the power to render games that many laptops would struggle doing is a bit of a stretch. This is why we're weary, and even scared.