There's no denying that RDNA 2 is deficient at RT workloads. I was having this argument on the 3DMark FSR thread. Speed Way is simply too demanding for this architecture, it takes a fringe halo ultra-high-end design that can chug as much power as it wants, running on third revision, specially binned KXTX type silicon to match an RTX 3070's average score. It may be mighty competent otherwise, but its first-generation RT acceleration capabilities are not very good, I would argue that it's behind even Turing's capabilities in many ways. If it's another hot take of mine, it's again one I'm willing to stand by.
RDNA 3 didn't change that. Hardware Vendor #3 has clearly missed their power and performance targets with the first-gen chiplet design. I'd be happy to let it slide - it's a radical change from the traditional GPU architecture, but knowing full well that it flopped, AMD should rush to be friendlier in pricing, because let's be frank: 7900 XTX is not a remarkable product as far as performance goes, it trade blows with the RTX 4080, has RT performance similar to that of the RTX 3080 Ti or vanilla 3090 despite having 24 GB of VRAM, and it will consume an absurd amount of energy to do so compared to the RTX 4080.
Maybe hardware bugs, maybe drivers broken beyond belief - but something is indeed wrong, because AMD hasn't bothered showcasing anything about the RX 7800 series/Navi 32 silicon - we've got a situation where AMD has no viable product to sell except for the most unpopular segment possible, which is the sub-halo performance segment where GPUs are too expensive for the average buyer, but don't meet the needs of extreme enthusiasts. It's why NVIDIA does things like the Ada product stack, which had the capability to be a genuine generational leap, instead it's sliced and diced to keep the performance per dollar aspect flat or in a very slight decline. Ich liebe kapitalismus... it is what it is.
Regarding compatibility, RDNA 2 is already DirectX 12 Ultimate capable, so it's going to run things, until the driver goes belly up. But the less bleeding-edge techniques that a GPU architecture supports, the worse performance will become. This is an area where they have a significant disadvantage against NVIDIA, especially if they're successful in selling the idea of shader execution reordering and simplified ray intersection to game developers, which you can be confident that they are placing their full weight behind even if it means to treat customers of RTX 20 and 30 series GPUs like second class citizens.