I do think it's kind of wild that we've come so far with what's achievable with rasterization in terms of performance and visual fidelity, and now we're almost going backwards in the rush to embrace real-time raytracing. Asobo's
Plague Tale: Requiem is visually breathtaking and (currently) features no RT whatsoever. I don't think Asobo are particularly great at optimizing their engine, but the artistry is phenomenal. When we're already capable of creating incredibly beautiful games like
Forza Horizon 5 (that can effortlessly render hundreds of fps on AMD or Nvidia hardware), throwing away all of that performance in chasing ever more realistic lighting and materials seems like an dreadful waste.
I guess that's just the nature of technological progress and the drive on the part of creatives to create something 'real' - when I used to work in CG visual FX in the 90's we had access to many ray-traced features (shadows, reflections, refraction) but we never used them because they were too damn slow to render. Instead we used shadow and reflection maps and every trick in the book to create realistic looking scenes without the render cost of doing it 'accurately' - of course, as time went on, CPUs got more powerful but our render times never went down because with more powerful hardware we started to use global illumination, ray-traced area lights etc.
Funny (and I guess, predictable) how real-time 3D seems to be following the same path