Aspect ratio shader (Bordered) = Increased PPI/AA?

As the title states, what I'm wondering is if the aspect ratio shader can be used to increase perceived pixels per inch by essentially shrinking the picture with the black borders enabled, or am I confused as to what its doing exactly. It seems to me that if used for this purpose you're basically getting a higher perceived PPI by increasing the border size.

Just as you reduce your PPI going from say a 24" monitor to a 27" monitor, using the aspect ratio shader this way are you essentially simulating an increase in PPI? (Larger screen space to smaller - more pixel density - less aliasing)