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HollyGamer said:

Yeah the early rumor said it will targeted around 500 USD and below 500 USD (499 ) . Ray tracing probably not on hardware level , but on software is possible and don't expect to be like RTX , but Metro Exodus developer said is posible https://gamingbolt.com/metro-exodus-developer-says-that-ray-tracing-on-next-gen-consoles-should-be-possible-via-fast-compute-cores. Also Polyphony digital are developing a ray tracing technique for the future games  https://youtu.be/mTed8QDTtDw.  

*snip*

At a performant level it has to be hardware accelerated so hopefully Sony is using TMSC's 7nm+ logic node ... 

I would prefer for it though if Sony just delayed the launch for another year so the hardware would be better baked thus we'll get better games in the end as well as a longer lasting hardware ...