We may see games that use one part of it, for reflections or global illumination only, but I don't foresee games trying to completely implement like Minecraft is striving for.
If Sony and Microsoft do another console upgrade mid gen, then we may see the tech has grown enough by then to where RTX becomes more standard on consoles, but I personally don't see RTX becoming the norm this gen, at least not full implementation of it. No games really implement it fully, either, and these games with partial implementation take a lot of power to run properly.
RTX is still new and we don't exactly have any cards, even on the PC side, right now that can consistently handle RTX. The horsepower is likely not there still. Now, it may have more advanced Ray Tracing tech inside of it that allows for Ray Tracing to perform better than it does on a 2070 right now, but I'm not sure we're going to see this generation, at least the consoles at launch, be the gen that really pushes full RTX implementation into the norm. What are you questioning exactly? The GPU is going to be potentially slightly stronger than a 2070, but clearly worse than a 2080ti. Video Out Support of 4K 120Hz TVs, 8K TVs, VRR (specified by HDMI ver.2.1) PS5 Game Disc Ultra HD Blu-ray™, up to 100GB/disc Variable frequency, up to 2.23 GHz (10.3 TFLOPS)
GPU AMD Radeon™ RDNA 2-based graphics engine