Which is exactly the problem. Devs aren't going to push RT that hard if it's not doable on the consoles.
That's a reasonable position.
However, tessellation was still used selectively in games shortly after its release even though the current-gen consoles did not support it. Considerable optimization was done on the latest-and-greatest PC platforms, which then made it
easier for consoles to adopt it.
I don't think that one set of hardware necessarily precludes development of features on another set of hardware.
Is there less incentive for devs to focus on RT due to limited hardware support?
Certainly.
Will the industry refuse to adopt the technology because the hardware is not yet available?
I don't think so.
The main reasons I think ray tracing will gain industry traction are manifold:
1) Low overall cost of implementation (the feature set already exists, it just doesn't have fixed function hardware acceleration)
2) Superior image quality
3) It's in the vogue thanks in part to NVIDIA's marketing and in part to its reputation from offline rendered images featured in prominent media (super hero movies, etc.)
4) It has widespread industry adoption for offline renders
5) In its initial (first decade?) implementation, RT will compliment rasterization rather than replacing it, which permits devs to still re-use the majority of their code on consoles.
Who knows, you might even see something wild like the old N64 expansion pack that could add RT hardware acceleration support to current-gen consoles. The future is a crazy place.