Yep. There's a billion and a half reasons you wouldn't use full-blown path tracing for games. It'll always perform worse regardless of what you do, the frame budgeting is likely going to be a total nightmare, the tree search you need to trace rays requires too much branching to map well to GPUs (it's perfectly possible, just another absolute nightmare as your complexity goes up), console GPUs are (and have always been) extremely underpowered in terms of compute (but good with textures), etc.

Limited uses? Sure. Otherwise hell no. It's never been more than a gimmick GPU vendors use to show off (in real-time, offline rendering is something else entirely).