Don't you guys get it? This is one of the first Nvidia demos of raytracing, and what you see is excatly what they wanted you to see. If they wanted to add nice shaders, shadows, HDR lighting they would, they're not stupid. This was a live demo. Their goal was obviously to make a playable example of raytracing, and because of the extreme amount of hardware it took they probably couldn't afford to add nice effects.