Synthetic oils are based on good ole dino oil seed stocks. Organic chemistry (or organic synthesis) is used to create nice, long, chains of polymers that are even in length and that exhibit specific properties. Synthetic oils all start life as dino oil.
Exercising precise control of the molecular structure allows for the careful tailoring of the oils’ properties. By employing different ‘recipes’, different polymers with different properties are synthesized. These polymers are mixed together, along with other additives, to create blends of synthetic oils with different viscosities, etc.
So, the answer is yes; synthetic oil started life the same way a dino oil does. However, synthetic oil doesn't stop at kindergarten. It goes through middle school, high school, prep school, and college too. Synthetic oil has properties and characteristics dino oil cannot achieve. Whether or not you will see a significant difference from those properties or not depends on your use of a vehicle and your maintenance schedule.
It is a decision consumers must make for themselves. Personally, I use synthetic in my cars and motorcycles. I use dino oil in our diesels and strictly adhere to the oil changing guidelines set by my equipments’ manufacturer. For me, the costs are too high to use ‘synthetic’ oil in my diesel motors (when an oil change is counted in gallons and not quarts it adds up quick). The biggest concern for me in a diesel motor isn’t that the oil has lost its ability to lubricate my motor, but that the oil has been contaminated by the byproducts of diesel combustion.
Synthetics are able to hold those contaminants in suspension longer than dino oil. However, the added length of time between oil changes is not enough to justify the added costs of the synthetic. Because I am not wearing out the lubricating properties of my oil before time for an oil change, synthetics aren’t the most cost effective answer to my diesel powered equipment. With a bigger fleet of vehicles, I might change my mind. I have not seen any premature failures in hundred of thousands of miles or thousands of hours on our equipment.
Synthetic oil does exhibit superior chemical properties to dino oil. However, the cost to benefit ratio is not always as cut and dried.