If that were the case no one would ever install native apps. But the reality is given the choice, most people will use the app. I know this is a fact because mobile is my bread and butter. But if you need some evidence just go look at any of the analytics data that's out there. The majority of time spent on mobile by a user is using an app, with a much smaller percentage of time using the browser.

Most apps are ok, or at least no worse than the browser. Some are way worse. In no case does the interstitial take into account your momentary cost/benefit for downloading/installing or if the app is any good.