It's amazing technology, it takes is one big step closer to realism and I think that's very nice. It's still new though, and optimizing the whole thing is still a big task. But were slowly getting there!
I agree OP, from watching DeS gameplay on PS5 I just assumed that was RT (watch the lightning bolt hit the tree) but it's not present and has just been officially confirmed. But the real telling thing here is that UE5 engine came up with their own GI solution and sidestepped RT. That is quite indicative of how inefficient RT is because if UE5 won't leverage it, it's now down to someone to develop a proprietary engine to harness it.
Not to mention just how they can't even get Minecraft to run at 60fps in 1080p with RTX on....seems like once we get the silicon powerful enough to push us over this hill it might be all downhill from then on....
Anyway will be very interesting seeing how Sony 1st party engines evolve...curious to see what Decima 2.0 or whatever number it is, is going to do with it or ND etc etc since fixed target platforms gain the most from optimisation.