Realtime Raytrace with RTX - we will not be seeing this.
The only thing that comes close is Unreal Engine, because it uses a 'slight of hand', where it combines Raster + Raytrace.
So that's not even real raytrace when you think about it.
The reason why RTX seems so meager with Octane may not be because how RTX is implemented. Rather, it may be that Octane is already so powerful in its own right, that RTX just can't really do all that much to better it, other than in certain situations. Which, I guess is a good thing in a weird way...
The only thing, though, is it kind of deflates the idea of RTX being this super-light saber feature that cuts through scenes like butter.
Win 10 Pro 64, Xeon E5-2687W v2 (8x 3.40GHz), G.Skill 64 GB DDR3-2400, ASRock X79 Extreme 11
Mobo: 1 Titan RTX, 1 Titan Xp
External: 6 Titan X Pascal, 2 GTX Titan X