Certain effects not only look better with Ray Tracing but run faster and put less pressure on the graphics card. Things like Shadows, Reflections, Refractions are all better done via Ray tracing.All its going to mean is that we can turn the option on (if we have an rtx enabled card) and see the fps tank.
Full Ray Tracing will kill FPS but a hybrid method where the above are done by RT should boost FPS while making everything look better.