Yes, it does but only in the movie mode (& that would make it appear "washed out" to regular Samsung users I guess

). I think the AMOLED screen on S4 is the best on any Samsung flagship so far. But I still prefer the XZ screen coz the S4's screen, no matter what mode can't display true whites imo. It's more like greenish/yellowish hue on the S4's white when compared to the XZ screen. Then, the daylight legibility is better on the XZ. And if you browse any website (say xda) using same browser (say chrome) on both & zoom out the page to fit all content (as far as possible), you'll notice the XZ screen to be crisper with better legibility of tiniest of letters as compared to the slight blurred out ones on the S4 screen (which I believe is due to the pentile matrix used in AMOLEDs).
I do like the better black levels & wider viewing angles on the S4 screen, but I find the better daylight legibility, better white balance & sharper browsing experience on the XZ more useful & important for my use. About the colours, I think its personal preference, some like (or are used to) the colours on the AMOLED screens & call the XZ screen "washed out", whereas some (like myself) prefer the colours on XZ (as more neutral) and refer to the S4's screen as oversaturated. I know, the movie mode on S4 almost nullifies the oversaturation, but it doesn't however improve the white balance, rectify the black clipping/crushing common on amoled screens, nor negate the blurring of small letters (due to the very pentile nature of amoled). So, its a matter of preference, really.