There are a few Reddit threads that crop up when one searches for 'macOS ringing artifacts scaling'. For instance, these ones:
https://www.reddit.com/r/macbookpro/comments/1252ml8/strange...
https://www.reddit.com/r/MacOS/comments/1ki58zk/fractional_s...
https://www.reddit.com/r/MacOS/comments/l8oadr/macos_fringin...
All are ringing artifacts, typical of downscaling. I no longer have a Mac (chose one for work to try it out, saw this issue, returned it immediately), but I assure you this is what happens.
> The only complaint people tend to make is ever-so-slight additional blurriness
At no scale factor should there be any blurriness unless a framebuffer resolution is explicitly set. The 'scale factor' should be entirely independent of the physical resolution, which macOS simply does not do.
Apple's understanding and implementation of 'Retina' comes from a singular source: the straightforward doubling in each dimension of the display resolution of the iPhone 4 compared to the iPhone 3GS. It has not changed since, and has applied this algorithm throughout its OS stack.