As you describe it, it means for me that only UE will benefit from the faster SSD, then I hope other Developers and their own Engines will benefit from that as well.
In the demo are featured several technologies, some doesnt worths to be mentioned because are a bit "meh" (like the water dynamics, this was not specially impresive), personally the 2 technologies that impressed me are the lighting engine (lumen) and the geometry engine (nanite)
Lumen looks nice, is a great achievement because is made with software, and is an evolution of other lighting techniques used since years ago, they have modifyed then and redesign them, and the result is good, is an step forward
But the most important thing about lumen is that is going to be the competitor of the (hardware based) raytracing
There are many people that only worries about numbers or pretty words and for them at this point is a matter of having raytracing or not having raytracing... if the device doesnt have raytracng it sucks, but if it have raytracing they are completly hyped. This demo without raytracing is going to shock them a bit, lol
To be honest, im sure if i play that demo in real world with a good TV and someone tells me that it have raytracing most probably im goign to say "ohh, yeah, yeah, sure, looks awesome"
It looks like raytracing, but is not

I bet they have not included raytracing in the demo because it would be counterproductive... his goal was to show what can be made without raytracing, and this is going to work very well in devices without hardware based raytracing video cards... they can even downscale it to make it work in low performance devices, like tablets or portable consoles, etc...
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What is really impressive is nanite (the geometry engine), this is a huge revolution for 3D and 2D designers, they are changing lot of "rules" that has been using since lot of time ago
The concept is that you can have in screen objects that are composed by billion of polygons ...BUT... the engine identifyes how much of that polygons are really notable by the human eye... so the engine is not really redering all that billions of polygons, only renders a max of "1 polygon per pixel"
Thats around 4 million of polygons for 4k btw (and 8 millions for 8k)
Using the example i mentioned yesterday of a mountain kilometers aways from you, while looking at it nromally the mountain only takes an area of 30x40 pixels of the screen... so the polygon count of the mountain is tiny... and the total polygons count of the whole screen is under control
But if you made a huge zoom to the mountain the game engine is going to generate the polygons of the mountain... up to the point where is rendered at his max quality (this is the real object), and it fills all the screen, so again the total polygons count of the screen is controlled
When you zoom in and zoom out the amount of polygons in the screen is pretty much the same... this was something imposible to do with actual game engines
The way how it works is using a (hardware feature) named "mesh shaders". The graphics cards with raytracing are going to have it for sure... not sure if the others without it will support it
Is like if the vertex of the geometry was controlled by a "tree" with nodes and a hierarchy and using "LEGO blocks"
The graphic chip decides at which level of the hierarchy you are (based in the distance in between you and the object), and generates the polygons required for that level of detail (to match with what the human eye can appreciate, and only restricted by the limit of "1 polygon per pixel")
In the practise, nanite and the mesh shaders allows to have objects with massive amount of vertex and polygons (there is no limit, the limit is infinite) because only some of them are rendered, so there is not a huge graphic workload to render the scene
Just to mention an example... you can send a team of designers to a cave with a
https://en.wikipedia.org/wiki/Lidar (or other device similar) + 3D cameras + more cameras in drones to scan external locations
That machines are going to generate a massive raw amount of data (they have made 90% of the work of "3D modelers" and "2D texturers"), after that they needs to "clean up" a bit the geometry and the textures and thats all
There is no need to do any optimizaion to reduce the number of polygons... i guess in this example with the LIDAR is good to optimize it anyway, but you know, the point is that is not needed... you can include objects in the game that are huge
Btw, another awesome feature is that technology doesnt uses additional texture images for "normal maps" "mipmaps", "reflection maps", or any other visual trick, it seems everything is made with a single image because is made in raw (by bruteforce), so the 2D designers are going to have a lot less work to do
For 2D and 3D designers is like a dual sided sword, because now you can create geometry and texture without much human interaction, but is going to make his works a lot easyer and they can dedicate his skills to other tasks instead of fighting back and forth rebuilding objects to reduce the number of vertex, or editing images 40 times to create the light effects
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So back to your comment, the revolutionary feature is the geometry engine, game companies (and specially 2D and 3D designers) and going to have problems adopting it, there are going to be many games not using it because his engines are not ready to catch the "mesh shaders" features from the next graphics chips, but this is the future unless something better replaces it, but to me it looks this is going to stay for long years to come
The big game companies like ubisoft, are not going to rebuild his engine so fast, is a risky movement, is better to do it slowlly
Sony studios are going to move a lot faster to it though... thats why they was so polite with epic team

I bet in the Ps5 public presentation sony is going to mention something about the new geometry engines and the "mesh shaders" because probaby they are proud of it, is like saying "UE5 is great, but we helped in making it"
*im writing so much because i like that geometry technology a lot
