Not really. Our visual cortex does something closer to the new fancy photoshop algorithm (filling in imaginary detail from a mental model in memory). Super-resolution techniques such as the one described above is more like a mathemathical function based on a statistical values, so it extracts real information hidden in the difference between each image.
It does both. Your brain interpolates the image, but the eye also uses interferometry to generate extra detail by moving the eye back and forth really quickly (microtremors). The result is that we glean more true information than can be determined by just measuring rod or cone frequency.
