Its incosistent, yes. It doesnt change the fact that its the number 1 game on the market in regards to both visual output and the tech underneath it. Ray tracing of course makes an enourmous difference, depending on the game and its implementation. You just need working eyes, marketing has nothing to do with it
The game is far more than inconsistent... you just have to chek out some Youtube videos to see that is very far from being a technical achievement, especially on console : far too much pop up, poor physics, bad animations, etc.
I've never been impressed by this game.
As for ray tracing, it's like resolution to me : it's a good feature but not the most important one.
For instance, i prefer a game running at 1440p with more refined graphics than a 4K game sacrificing a lot for a higher resolution.
If a developer has to limit himself too much for ray tracing, then that might not been the best use of the available resources.