As others have mentioned, ray tracing the technology (input/data) should not be confused with the output or the style of the games it is currently mostly being used for. It's just producing sets of data that were previously too expensive to gather in real-time to produce effects such as accurate reflections, indirect lighting, or shadows. That doesn't mean that the data couldn't be used for stylized effects, art style or just completely different in other games.
Secondly it's still not being used for the entire lighting pipeline of a modern game, so in most cases you could still easily fake the effects you mention in the original post and using ray tracing doesn't mean even close to always producing similar visual style across different games. There's incredible amount of artistry behind creating game visuals no matter what, and all ray-tracing does is give those artists more tools to produce their vision without certain limitations or spending vast amounts of the development budget on going around those limitations (and while those work-arounds are a part of the craft, removing them naturally allows people to work on other beneficial things, and crazy amounts of per scene manual setup to achieve certain effects isn't necessarily super motivating when that time could instead be used more productively).