The 5700 XT is neck-and-neck with a 2070... in games without ray tracing of any kind. We don't know how much of the new RDNA2 GPU's silicon is dedicated to ray tracing cores; if it's anything like what Nvidia did with Turing you're going to get closely equivalent ray tracing performance to a 2070 with maybe 10-15% higher rasterization performance (putting it in the realm of a regular 2080).
Remember, the whole reason Turing was such a small jump compared to Pascal was specifically because of ray tracing. If they had dedicated the entirety of Turing's architecture to rasterization performance they all would have easily been 30-50% more powerful than their equivalent Pascal cards. Ray tracing is heavy and the fact that it's present in the next-gen consoles means that AMD is dedicating a significant chunk of the new GPU's budget specifically towards that. You can't just assume it's an added freebie.
I'll be wildly impressed if AMD can put out something with power on-par with even the mid-range Ampere offerings. Given their track record, that would be a major leap. I'm not crossing my fingers.
