That's the idea. Double the refresh (which will also double the horizontal scanrate since the number of lines is unaltered) without doing anything else. This will preserve the actual image exactly as it was. Each frame is simply displayed twice. The only perceptible change would be less flicker and maybe a brighter image.
This works great...if your monitor can handle 120Hz refresh. This pretty much limits you to PC monitors, but there were a few high res only (30kHz+) arcade monitors made that can do it, too, as well as some low res (15kHz capable) arcade monitors, but you could just display the original video on those. On a PC monitor, this will look a little funny. PC monitors weren't generally designed for such low resolutions, so the scanlines will be VERY pronounced.
A line doubler would double every line, messing up the scanlines some. On a PC monitor, this may be preferable (see above), but on an arcade monitor with a coarser grain dot pitch, it might not look as good. And yes, if you're generating the graphics with a PC, you don't need an outboard device to do this (or double the refresh, for that matter) - just enable doublescan.
Note that doubling both the number of lines AND the refresh rate will QUADRUPLE the horizontal scanrate.
A niche application device, to be certain, but if someone wants it, it is doable.