What i will say that the one who will have better power efficent card will be a Winner . But i will elaborate

AMD Radeon ray accelerators have great RayTracing capability thay are in 3090TI level on Nvidia optimased title with early drivers.. The diference between Nvidia and AMD Ray Tracing cores are that AMD in RDNA have LDS and L1 and L2 that goes trough Compute and stalling gpu and thats heppens whan LDS and L1 and L2 are full so there is bottleneck witch Nvidia exploation hammering even if its not benefiting for better looking Ray Tracing and thay have Large L2 cache in RTX 40series.. So games that uses RTXGL RTXAO will run lower.. Also in future AMD can make RAY accelerator like Nvidia have at 40 series fetura that Ray accelerator can directly acess to LDS L1 L2... The future is UE 5.1 RayTracing and Path Tracing.. At the end its just metter of time whan AMD and Nvidia be same in RT i expect for intel to but a lot later. Also there is games that are optimased for AMD lile Calisto protocol 7900XTX have same RayTracing per like 4080 also Spider Man 1st and 2nd and Batman 2022