I am actually done with the PC. I will only use it for games I know excel on the PC or are only available there, (which becomes even more rare than ever before).
I haven't made a purchase for the pc in over a year. I still value fps over graphical quality, so over time, I'll simply start reducing the details in order to keep my 80fps+.
I haven't even turned on my Xbox1 in months.
But regardless of all that random babble. Intel focussing on RT as well means we have 3 GPU competitors aiming in the same areas, which could entice developers to push more for raytracing. It is still far from being mature so it is bound to have a rough start.
If Graphic quality hits a wall or requires horsepower beyond what is available, then ray tracing could still push the immersion to making enjoyable quality detail. Either that, or it could fail hard like 3D Vision. remember though, if we didnt have a focus on 3Dvision from Nvidia, and whatever AMD had, we would never have pushed monitor refresh rates as far as we did back then. We had 120hz next gen screens with the intention of using them for 3D. New tech can be useless tech, but it most certainly pushes innovation in other areas we take for granted.