Potentially very interesting.
On the low light cams you tend to see them at shows demoing in BW mode in closed off boxes. Turn them to color and they give out some good results, but with lots of noise obviously.
This fixes the noise problem. The false palette one can probably live with due to the benefits. On a static scene, perhaps they'll have a color reference that can use to adjust better for the majority of the scene - reading wikipedia, it makes me think that is how it's achieved?
Film colorization - Wikipedia
But are finding often installers are using white LED lighting for dark areas with public transit due to H&S and CCTV camera illumination is benefiting from that. So low light cams are beneficial but very dark areas are becoming more economical to light up often negating the need for IR.
Everything of course has it's place. If it's just a DSP function, then it's a nice tick for specifiers.