DLLS Frame Generation or Lossless Scaling Frame Generation. Is there a difference?

I want to get myself a new gpu, because I'm getting fed up with my gaming laptop with rtx 3060 mobile

But I can't make up my mind:
RTX 3080 TI or RTX 4070 TI?

I first wanted to choose RTX 4070 TI because I want a newer gpu and has Frame Generation. But I have a friend who has RTX 4070 and he said that with DLSS Frame Generation that with Lossless Scaling 3 with Frame Generation. Zero difference at all and they are the same. And he want buy used RTX 3080 TI and sell his RTX 4070.

Those who have the 40 series and used or tested DLSS FG and LS 3 FG. Can you please tell me if there are any differences and how with the latency in them? Should I buy RTX 3080 Ti and use LS or Buy RTX 4070 TI with DLSS FG?