Its hair works all over again. Except even more gimping.
I'm honestly amazed they showed fraps running on that game, didn't they bang on about 4k for a decent chunk of the presentation? If it can barely manage 60fps at 1080p then 4k would be a slide show with ray tracing enabled.
I'm not that surprised at the performance considering this is the first iteration of a ray tracing enabled gpu, but it really speaks volumes as to why they didn't go into numbers and kept babbling about the tech in the core for over an hour. Just diverting people away from performance and focusing on the "holy grail" of graphics as they put it.