I honestly wasn't expecting anything crazy from RDNA 2's ray tracing implementation, it's AMD's first attempt and they gave it a good shot, supposedly RDNA 3 and 4 will have significant improvements but that was already a given. Nvidia have been at for longer as well so it's expected that they would outperform AMD in that department, although Nvidia have dedicated a lot of silicon for their RT cores I don't think AMD wanted to go down that road as well for several reasons.
As for the consoles, we already know that PS5 has a custom ray tracing implementation, the details are vague but we know from official documentation that Sony built a lot of "libraries for their ray tracing structure", whatever that means but I'm guessing it allows the ray tracing to be implemented more easily into games, I think it was
HeisenbergFX4
who mentioned something similar. Spiderman Miles Morales looks extremely impressive for a launch title so who knows what kind of eye candy the first party developers will be able to achieve in the second and third wave of games when they've come to grips with the hardware features. Personally I'm really looking forward to whatever Naughty Dog are cooking up as well as Santa Monica, two studios who are known to always push the Playstation hardware to another level.