The memory limit is essentially the only real hard limitation of path tracing. If you can fit a scene in memory, then path tracing it is actually fairly simple (and embarrassingly parallel). If you can't fit it in memory then you have massive problems because there are no good algorithms that will let you split up a scene and render half of it on one CPU / GPU and half on another and then somehow merge the result back together.
Light is incredibly unpredictable and if you're rendering a city and your light ray bounces say 16 times, that ray could end up travelling hundreds of kilometres to every corner of your scene in a single sample, so you need to have everything in memory all the time.
Say you split a city down the middle and give part A to GPU A and part B to GPU B, what does GPU A do when a reflection bounces off towards part B? You either have to send the ray to GPU B and then wait for GPU B to return the ray back to GPU A (slooooow), or you try to make some kind of light cache, which would likely end up being larger than the scene anyway and probably look worse. The other option is that GPU A ditches scene A, loads scene B from disk, traces the reflection, and then ditches scene B and re-loads scene A.
All of these options are all so prohibitively slow that they're not worth doing, which means that the final option left is to say that parts A and B cannot reflect / cast shadows / light each other. This is going to put an incredible amount of work onto the artists as they have to find ways to fake things and try to make things look somewhat correct.
That's why GPUs are amazing for small scenes, but for people who are pushing the boundaries (and as Blinn's law states, as computers get faster, rendering times stay the same because people just render more stuff
) the limit is always going to be memory. If you have enough memory, you can just throw cores at the problem. If you don't (and GPUs generally don't) then you're out of luck, no matter how fast the GPU or how many cores it has.
If the Apple Silicon Mac Pro ends up having a terabyte or more of RAM that is accessible by the GPU, then that could be a game changer at the high end, even without RT hardware.