no
he's referring to the marketing of things. His criticisms are valid, the marketing was designed to push adoption and a lot of stuff was thrown into their to support it. The outputs were different from what were advertised (but slowly getting there), and that's just the result of the game industry taking the steps to make changes to their newer titles and not their work in progress.
Coding on consoles have always been low level.
APIs are just interfaces to assist developers into doing things they don't need to worry about. The higher the level it is, the less you need to worry about, the lower level it is, the more you need to worry about.
The misnomer is that because you have a low level API you are 'close to the metal', and there seems to be confusion on shaders (the actual graphics programming) and low level API. The API controls the GPU and provides the constructs and data structures. The shaders are programs run by the GPU. Thus someone trying to create Ray Tracing through compute shaders doesn't have the ability to change the way the compute queue runs the program or use special data structures that would assist in the speed of a ray tracing program at the GPU level. Where an API designed for Ray Tracing would create those data structures and have a different method of moving or assigning data to the compute queue for processing. People tend to confuse this with being able to program the GPU, as in, being able to program it to do whatever you want.
tldr; ray tracing through compute shaders, is
likely (barring poor implementation from vendors) to be less efficient than ray tracing through the API. Even if the hardware is the same. (better to ask a developer on this one, you lose the general purpose flexibility in favour for some speed enhancements, a trade-off like others)
Consider PC games. How nvidia and AMD releases drivers to support better performance of these games. the DX API didn't change, they just looked at the game code and found ways to change how the driver reacts to the API call to speed things up. (my understanding)