When every console uses borderline unusably slow RT hardware (RDNA2 APU), the majority of games developers will build for the lowest common denominator (Xbox series S).
UE5.4 has lumen as the default, PS5 Pro coming soon which has slightly less useless RT hardware from a RNDA3.5 APU, so expect to see stronger and more detailed implementations.
Games devs are mandated to have every release run on the series S, so blame Microsoft for stupid segmentation and AMD for behind the times hardware.
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Blame whoever, this has been the gist of consoles since forever. They're not bleeding edge tech because they need to be cost effective. Don't for a second think Nvidia is/was capable of pushing a more competitive deal here - if they were able or willing to, we would've had Nvidia based consoles. Especially if the RT promise was seen industry wide as a killer feature.
And yet here we are. The market proves how important RT really is. Blame has no place. Economy doesn't care about blame. The indisputable fact is that (third gen!) RT has proven to be even less than a buzz word outside of DIY PC than AI is in its current infancy. People don't give a shit about it, despite lots of marketing and pushed games/content. The fact we're still talking about Cyberpunk's extra special RT features right now speaks volumes. It reminds a lot of how people talk about the tiny handful of VR games because there simply isn't anything else. Yeah... have fun with your little box of toys... it ain't going places though.
The developments are there, but we can be much more dismissive of what's going to actually work for us and what's not. Others say that all technology starts small and then takes over, but that's not true. The majority of developments do in fact, fail. Many things are thrown at walls, only the
best things stick. I put a lot more stock in engine developments like Nanite and the slow crawl of AMD's RT hardware improvements than proprietary pushes and per-game TLC to 'show off' what it can do. Sure, you can use a few of those poster childs to push the tech, but its really that, and nothing more. It won't ever become a thing in that way, shape or form. Cyberpunk's PT, the excessive TLC on that game's graphics... fun project, but not indicative in the slightest of a gaming market for the (near) future. Not the next gen, not the gen after it either. 10 years? Maybe. Maybe not.
RT is currently mostly selling an idea and has a few tech demos to show it off. There is no proof of its
economical feasibility whatsoever yet. Given the abysmal raster performance on the new crop of games, you can also rest assured that Ye Upscale won't save RT. Game performance bar keeps moving up regardless.