NVIDIA has been touting their new GeForce RTX cards as the first raytracing capable cards, but not all of them do it all that well
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Nvidia are definitely taking the urine with pricing this gen, i thought the 980Ti was expensive enough when it launched. It was the 1080Ti that it started to get a bit silly, and then just completely stupid with the 2080Ti.
I think the greed has got to them and that's why we have Apple like pricing from them now.
As for Raytracing, it's obviously not ready. They seem to have slapped it on this gen of cards just for the sake of it being there, it won't be until the next lot of cards that they can run it decently anyway.
It's a bit soon to make these kinds of assumptions. There is only one DXR enabled game right now... basing such a conclusion on a single data point is silly.