I'm pretty sure I'm not just imagining the fact that Frags have a smaller blast radius or just do less damage, because they ain't killin' shit when I throw it at enemies. Reading some forums where people were asking if players prefer Frags or Semtex, many people said Semtex because apparently they do a lot more damage.
It all makes sense why they added Semtex now. If you want to be able to cook your grenades at will, frags are excellent but you need to be spot-on with your cooked grenades else they won't kill. Semtex on the other hand makes a big beeping sound and cannot be cooked, so enemies are more aware of it but the blast radius and damage is also larger to make up for this.
So it's a balance decision. Do you want to be able to cook grenades and have a longer grenade timer to throw it over buildings and shit, or would you rather have a more powerful explosive on a shorter and louder timer?
I think I'm sticking with Semtex from now on. No pun intended.