It also depends very much the geometric complexity of your scene. With hundreds of millions of polygons it's not difficult for raytracing to outperform rasterization, especially if most of those polygons are instanced.
Meanwhile, I don't know how much effort would be required to effectively rasterize a beach with individually modeled grains of sand. https://www.fxguide.com/featured/the-tech-of-pixar-part-1-pi...