Yes, no.
Unlike other monitors/Tvs this doesn't come with a so called "gamemode", but it does come with a mode called graphics which I assume is Acer's version of gamemode.
Gamemodes aren't necessarily necessary. They are intended to decrease processing of the image, but more often they are simple visual presets that seem to turn up brightness/contrast, saturation, and edge enhancement.
Some manufactures may have better optimized gamemodes then others though...