RTX accelerates ray intersection on a typical scene from a video game. But demos are usually not typical scenes, instead using mathematical models like signed distance fields that work differently.
There are other issues: you need compatible hardware, it is not well supported by OpenGL if at all, there may be too much overhead for 64k or less intros.
Personally I don't see how to take advantage of it in a way that opens new options, but maybe someone else will do. After all, it is something the scene is good at.
For small intros it's almost as you say -- RTX is mostly uninsteresting and not that helpful for current status quo at least on the surface. However, while SDFs are do indeed provide a relatively cheap and intuitive way to specify your scene spatially to allow ray tracing and GI approximation with varying degrees of fakiness, they confine you to a rather limited abstract geometry stlye. Anything beyond yet another repeated-rotated-cube-with-cutouts-fractaled-to-death is rather uncomfortable to pull off and is also usually very slow (see iq's incredibly realistic works). That's why most of the intros from last 10+ years look rather similar.
Also, I've been recently playing with Vulkan ray tracing extensions and turns out it's not that hard to pull off. There's a considerable upfront cost (Vulkan being verbose as it is), but it's totally manageable, around maybe 10-20k compressed. The entire PoC intro with music was about 60k, and I haven't even started optimizing it for size. It had also been compressed with "just" UPX (apparently ray tracing extensions work only in 64-bit mode, so more sophisticated compressors are out of the question). I've heard that recent work on native 64bit compressor from Ferris removed another 16k from it, so there's definitely a lot of room for actual content in 64k+rtx.
I was playing around with mesh-gen for 4k back in 2010 and you'd eat up most of your budget before even rendering, this is why SDF based raymarching reigns supreme for 4k intros (and are quite popular for larger categories as well).
And I'd be kinda surprised if you couldn't do something interesting with RT cores even in size-limited formats (possibly more in 64k than 4k though), even if maybe not quite the way nvidia intended.
You can sensibly use RT APIs together with raymarching. There is a notion of custom geometry that's specified using bounding boxes. When ray hits one, it's your responsibility to compute an exact intersection manually in the shader. This can definitely help with complex scenes with a lot of very different sdf objects that don't intersect much.
But yeah, in that case you'd still have to pay the Vulkan price first. I might experiment with what can be the size-chepest way to get vk rendering.