this article is so full of horse shit. ray tracing is not the holy grail of graphics. ray tracing does not offer TRUE PHOTOREALISM. ray tracing is just much better than rasterization but you still have to do plenty of trickery in order to recreate some optical effects ( like caustics ) which only come naturally with path tracing.
path tracing is a simpler (but yet more demanding algorithm) which also offers global illumination, while ray tracing does not. global illumination is very important in having photorealistic graphics.
with path tracing you don't have to resort to tricks to implement various effects like you have to do with raytracing.
and path tracing is not a SHORTCUT like the article mentions. path tracing is a full algorithm which solves the illumination equation in the full, it's also a so called "unbiased" algorithm. Last but not least, path tracing was not invented by that obscure company called "caustic", it's a well known algorithm.
Don't let the marketing guys trick you, ray tracing is just a jump forward, the final solution is path tracing.