I agree with 1. Most other games are going to be console first games anyway so I'm not sure how big of a deal it is going to be. Outside of RT on AMDs side most of these GPUs are going to be under utilized for the rest of this generation IMO.
I don't think 1 will be a big deal, but I could be wrong. Say you're playing a game and normally you're at like 58 fps. What you'd do is lower your settings just a bit to get maybe 65 fps, then turn on FG and cap to 120. You just have to lower your settings enough to get a small headroom to handle FG from 60, if that makes sense.