Its the sort of thing that's perfect for this thread, people do care about Ray Tracing, people are constantly being told they should care about Ray Tracing, they are also being told they need to spend £600+ to fully appreciate it, the games are also becoming more expensive, Unbisoft are regularly launching "AAAA" games at over £100 these days.
So, if i cannot fully appreciate Ray Tracing on my £400 GPU then i cannot play the game as intended with all the things i'm told i should care about in this £70 to £100 game, if i'm not getting my monies worth i wont bother, i'll wait for it to land in the discount bin, in the mean time i'll catch up on my Steam backlog.
Unfortunately increasingly that's what is happening, more and more people are feeling like they are being priced out, so they don't buy in.