I have no idea what sort of performance jump the RTX cards will bring, but it will need to be massive and I think we are a very long way off having graphics cards powerful enough.
Nvidia are just hamming up a feature I think. The need for ray tracing as standard in games is questionable too.
By the time raytracing is common in games and not one off or of limited use like Metro Exodus, then we would probably be into 2020 with more powerful generation of cards.
Trying to jump to the wagon now, thinking that is future proof going to be the big mistake.
Will this work for AMD aswell? It will take ages to be adopted if not in console games aswell. Not many pc exclusives nowadays.
That is the funny bit. Given that consumer Vega 64 is exactly the same chip found in the Fire Pro WX 9100, and the latter is advertised for GPU rendered ray tracing, who knows.
What we do know is that the V64 is great on computing tasks and has the grunt power on that department, even if on gaming graphics is lacking compared to a similar (compute) GPU.
Given past history of AMD over engineering their GPUs before their time, I wouldn't be surprised if it came out with a driver update allowing hardware ray tracing.
Also we know that AMD has announed that RadeonRays 2.0 is backwards supported all way to Hawaii based Fire Pro, which used the 290X, and already supporting ray tracing on DX12, Vulcan, Embree and OpenCL.
Yet that might not be possible with GCN architecture, as it is not also with plain Cuda cores found in eg Pascal. However we do know Vega is the last GCN card, as Navi is already announced that has completely new core architecture, and it's successor another new core architecture.
Time will show.