Yes you are wrong bro. I posted a video about someone trying to imagine next-gen hardware by building a PC with RX 5700. That GPU can barely manage to play Metro Exodus in Native 4K at 30 FPS with max settings that is withoput any RT effect enabled, let alone advanced ones.
Next-Gen (the PS5 at least from what has been seen and talked about) are supposed to run next-gen titles beyond what is being offeerd in current-gen games and with RT enabled too.
This what
Kleegamefan saw and confirmed:
There is no way next-gen consoles could be lwoer than a RX5700 XT to run all of those features at once, they must be more powerful than it to start with. In fact I trying to suspect that both may be shipped with RDNA 2 chips in the final designs.