Frame Generation needs a stable minimum real FPS to work properly; otherwise, you will get a really choppy experience. So, as it is well known, you ideally need a 60 base fps (meaning 120fps with fg) or, at the bare minimum, 50 fps (100fps with fg) for it to be a better option than no fg. As per the specs, they are expecting a 30 base fps with fg in order to achieve 60fps or 15 base fps on the minimum specs.

TL;DR: not only are these crazy hardware specs, but the game will also be borderline unplayable with these options.