They won't overuse raytracing I bet my life 90 percent of games won't use it simply because traditional methods work and allows them to push visuals more than raytracing, on current implementation raytracing is all about lights, shadows reflections things that traditional methods will improve anyway with next gen hardware and have room for other more stuff packed on the vram like textures and polygons,
The only real scenario I have no doubt they'll use ray tracing is racing games! GT sport had already been experimenting with it which looks like ps5 devkit,
Lastly I'm not sure it'll be a big leap since we haven't got the real specs on vram capacity and bandwidth which is the single most important hardware in graphics and since ram prices are too high then Sony and Microsoft can't afford enough vram on a 500$ price which people cry over. So if it's 24-32 GB then itll be really a significant leap considering they use the ssd, ssG, reram as virtual ram aswell.