JordaN I do not know how you confuse real raytracing with cube mapping is beyond me. Cube mapping cannot reflect
MOVING objects real time plus you need only one source of light to use cube mapping which is clear on the tech demo you have at least a dozen.
Here is a quote you forgot to mention in your post from the source you provided.
If they used cube mapping on the tech demo then Wii U is a beast on the rendering department and it is more capable by your logic.
Real time ray tracing is capable even on Ps3 and Xbox 360
http://www.youtube.com/watch?v=eG7UGzNAMXQ
They just do not use it because it is very heavy on the hardware.
Wii U GPU is more modern and runs ray tracing more than fine on the tech demos Nintendo showed at E3 2011. If you were objective on the matter you at least acknowledge that in the Zelda tech demo the light source from the torches and windows are reflected real time on the floor and on Link's model as the fairy(MOVING source of light) is always reflected on floor,walls and character model. Also light diffusion happens on the floor of the temple as light is casting from the windows.
Advantages over other rendering methods
But nice try to represent that ray tracing needs a kepler GPU to implement on games.