I don't know where this reasoning that Nvidia has "dedicated RT cores" and AMD doesn't, it is not correct, it is not how this works, they both have "dedicated RT hardware" there is nothing emulated about AMD's RT, it is physical.
The difference is in how Nvidia and AMD build BVH, this is really over simplified because i'm not going to write a wall of text to explain this, AMD Construct BVH over many branches, Nvidia do it over a very wide tree, this is a bit like 8 slow cores vs 4 fast cores, both can be equally as fast but not by the same method.
The advantage of the wide approach is it doesn't really matter which BVH construction you code for you will always get the most out of being wide, the disadvantage wide requires more caching, its why Ada has so much L2 cache, the advantage of the branch approach is you don't need so much cache, but unless you're specifically going to code for that its going to be slower.
Now i's sure AMD's thinking was keep the die size down, it doesn't matter as we own consoles they are going to code for us, hmm... well they don't have to and if the studio is packed with Nvidia cards they aren't going to.
Also, and game that AMD does RT well in must be fake RT, no, not necessarily.