Sure. But if we are talking about next gen I believe we can see near or even native 4k still offering these features. But I do agree we can have some dynamic res, or reconstruction to portray the 4k but leave as much power as possible to other IQ features that could make the game look better.
Ray tracing costs a lot of resources. Great ray tracing at native 4K 60 fps won't be possible on consoles, but it does add a lot for realism. For a 65" 4K tv the difference between reconstructed 4K and native for 4K is hard to spot from a normal sitting distance. Even 4 feet away PS4 pro's current faux K is more than good enough. Texture detail, lighting, shadows and reflection are still lagging far behind the pixel density. It's just easier to boast about native 4K than other things that make a game look good.
I hope next gen full HDR becomes the standard with more focus on lighting and texture detail. Ray tracing should provide better shadows and reflections, however the higher the resolution the more power ray tracing needs to provide accurate shadows and reflections.
Another thing for GT is having more cars on the track. Multi class races on N24 and Sarthe, 60 cars at Sarthe, 150 at Nurburgring.