Same wording they used in that Cyberpunk reveal demo. We all know how it turned out. The final game looked better. And not just because of ray tracing.
What they have done here is remarkable. They've shown base PS5 footage when they couldve easily chosen PS5 Pro or PC footage. They chose to show the 60 fps mode on consoles instead of 30 fps. They chose to show hardware lumen on consoles instead of path tracing on PC.
Remember that cyberpunk gameplay demo was running on a 1080 Ti at 1080p 30 fps. By the time the game came out, we had consoles that were just as powerful and ran the game at 1440p 30 fps with rt shadows. And 1080p 60 fps in performance modes. We had 2x more PCs that ran the game with full ray tracing at much higher resolutions thanks to dlss2.
Yes, they labeled this as a tech demo but its clearly realtime.