It's not a chicken or egg problem. It's a problem with one very obvious solution, a new console generation. Any new tech or feature not included in a new console generation is just window dressing.
If RTX is what kickstarts AMD to offer a competitive alternative, then great. I doubt it will arrive in any meaningful way for the 2021 console gen.
Besides, nVidia has on multiple occations let AMD take the lead on new technologies and fall flat on their face when it isn't widely adopted. Can cite multiple examples in the last 15 years of AMD's tech superiority, but nVid doesn't implement, so game devs aren't going to develop for a split base, so AMD burns RnD money for no real gain.
I wouldn't be surprised if AMD is happy to let nVid burn through all these excessive features that no one is really going to use for a decade... payback's a bitch.
AMD = will power next gen of consoles = basically controls the fate of all AAA games for the next 8 years.
For your transgressions you shall be labeled a shill, called an idiot and anytime you mention facts or disagree with a tribe member you will henceforth be known as a troll. The best you can hope for is that the labels won't haunt your offspring. -RedEye9