It does not. If you have e.g. QHD on a 13" laptop, then it's cool because 2x scaling works. On my 32" 4K display, it's bad because I'd need 125% or 150% scaling, not 100% or 200%.
Fractional scaling is in the works for the next Gnome release. I've been using the former case, so that's why I said it works well for me.