Fraxel's greatest benefit is that it treats small areas, not large areas. On the other hand, rhinophyma requires that large areas be treated, so I don't believe that Fraxel will be helpful at all for this concern.
There have been several presentations at conferences where the re:pair is used to treat rhinophyma. You treat at the highest desity levels and then go over the same area more time than the set passes. It gets you close to 100% coverage. Healing takes slightly longer than at a lower density but results are pretty good. You might need a few treatments for optimal results.