nVidia have smashed it out the park with the new and emerging tech; some of the CES tech demos are incredible and verging on the ridiculous. How well that translates to games... well, we shall see. Some of the new APIs are great, too, and inclusion in the likes of the evolving DirectX baseline is a good sign (not just for nVidia owners I hasten to add). It's great to see a number of titles have already committed to updates in order to adopt the new tech.
AMD have some good stuff coming as well to be fair, although I'm not sure we will see it this year now. Their new gen RT stuff is a definite step up along with their ML upscaling on RDNA. They might not compete directly against nVidia's top end but you can't ignore them given their raster performance and much better value. It will be interesting to see if the pricing of the mid- and low-end nVidia 50x0 series impacts on AMD prices, as the nVidia MSRPs were a bit lower than expected (ignoring the ridiculous 5090 MSRP). Of course, it's nVidia and AIBs are sure to add a healthy markup that takes the RRP well above MSRP.