This is a bit off, the first 2 years doesn't necessarily mean 24 months since release. It really just means ending 2021 at most. You can probably look at it as a year and a bit.And that transition will be a lot slower on the SeriesX, since Microsoft is mandating that all new 1st party titles for the SeriesX must also be developed for every device down to the XBOne, for at least two years. That gives a lot less motivation for current XBox gamers to upgrade, meaning they'll be slower to upgrade.
So if every developer were to follow your logic (they won't), no one would even bother to implement raytracing. The overwhelming majority of console + PC gamers don't own raytracing capable hardware either.
Secondly, it's only first party titles that have this mandate. A lot of people will still want to see next gen graphics coming from 1st and 3rd party developers. 1st party studios will certainly have the funding to do both render paths.
Thirdly, most titles in general in the first year are often back ported to the previous generation anyway since it takes a while to ramp up populations.