I'm not sure why your impression of VSM is that it can only handle a 'handful' of shadow casting lights when it has optimizations like caching, sparsity, and advanced techniques like one-pass projection. Fortnite itself can handle rendering a dozen local lights (6 virtual shadow textures are allocated for each!) after culling with VSM well enough ...
@Bold With specifically no HW enhancements in mind, I can see next generation platforms being able to handle potentially up to 3-4 planar reflectors ...
Since SRAM scaling hitting a ceiling, the ever ballooning costs of newer process technologies and the advent of smaller reticle limits all the while there being still a major outstanding issue (slow acceleration structure updates) on the most advanced RT implementations it is likely that next generation consoles will give out in terms of hardware improvements before they even reach RT for the majority of AAA games ...
Seeing how much of a performance disaster that a recent RT graphical update went for a 16 month old game and unless most AAA studios are content with building RT onto last generation technology like that (of which I seriously doubt), consoles are virtually poised to take a different direction if they want to avoid stagnation. 'Standardized' HW isn't living up to the console vendors expectation of being or becoming 'cheaper' overtime anymore so they have absolutely NOTHING to lose in particular at all by applying several exotic HW feature modifications going forward ...