That doesn't look ray traced at all.
Ray Tracing can look amazing, but it's not going to happen any time soon and Intel banking on it happenin in the next 2 odd years is going to bomb for them. The average PC gamer doesn't have quad core processors and 4g of ram yet, real time ray-tracing is going to require like 10+ cores and 15+ gigs of ram and graphically has some serious short comings, especially when it comes to light and shading.
I think eventually Ray Tracing is where it's at. But if John Carmack says it won't happen any time soon. It's not gonna happen any time soon. :p