Absolutely! Both are seethingly sharp and both cut hair. It's how the weight and rigidity of the blade suits people's faces ...
Yes, double edge blades do seem to have a more fragile edge and dullness is often experienced by the third shave. Given the price, some folks only use a DE blade once anyway. Single edge blades like the GEM can go on for a good 7 or more shaves, often not expiring until after 10 ... but again, given price and how nice a new blade feels, folks tend to ditch at around 5-7 shaves.
It's the feeling that is the key difference ...
With DE blades, the razor makes all the difference. Blade gap and blade exposure provided by the razor do more for the different types of shave than the blade, I think. Others will disagree. With single edge, the blade is quite rigid and so the razor is really only there to hold the blade and the guard rarely comes into play only stopping you from doing anything really stupid. With DE razors, the guard is quite an integral part of the shave, indicating a good angle.
Single edge is the natural descendent of straight edge ...
The first safety razors were "wedge" holders; an inch and a half length of straight razor, held in some form of contraption - early ones often nicknamed Pig Scrapers. As they became more refined, all manner of wonderful designs were seen. Really quite quickly, the thinner single edge blade came about ... as early as the turn of the 1900s. That form remains today, albeit ever so slightly slimmer.
Jump into the passarounds and find a single edge to try. Good fun! I found them quite early on in my journey into traditional shaving and didn't look back! I do enjoy a DE shave every now and again, vintage British Gillette and Star/Personna being my favourites. For single edge, it's the mighty 1912 ... easy to search for.