They answered this too, DLSS and FSR yes, Vulkan is about 70% done, Gen12 is what they call their own propitiatory API, its not DX12, They started working on this in 2014 before DX12 and Vulkan existed, they felt they needed their own propitiatory API because DX11 was far too limited for what they wanted to do, parts Gen12 are actually already running in the game, they continue to develop it but the focus has switched to Vulkan.
Ray Tracing, unlikely, they are not ruling it out but the game is far too big for Ray Tracing to be viable, the hardware capabilities need to improve massively for it to be viable for Star Citizen, IE by many multiple factors.
They are instead working on their own propitiatory lighting and shading system, including a much better screen space reflections system.
Different names, same issues though Trep. Some gains and efficiencies. Some new shiny with costs ¯\(ツ)/¯
They're naturally seeking to stay relevant. But they're also naturally moving at a slower rate than you'd see in a dedicated engine refresh alone, due to shonkier in house tools and working with a live build etc. Always destined to be behind that curve over time, and dragging beleaguered artists in their wake...
But the key points is: There is no magical saving out there that suddenly accommodates all the crazy stuff CIG want to do. (And again, the engineering fella doesn't claim there is. He thinks it's up to the gameplay guys to magically streamline everything at their end