If that is path tracing then they have a bit of catchup to do to get it to same levels as competitors.
My opinion is this is some type of hybrid path-tracing that utilizes realtime effects. The DOF in particular looks like realtime DOF because it is struggling to blur correctly as it moves from focal distance to unfocussed. Or its method to do DOF is still not as good as a competitors.
Unreal added path tracing initially as a tool to compare realtime with path tracing results. This allowed those using realtime to tweak scenes to get as close as possible to a photoreal result. It's intent was to not be a production ready rendering solution.
That said it is still a very competent rendering solution but cannot be compared to Vray, Redshift etc as those have years in the game making both biased and unbiased light path engines.
But from a realtime aspect Epic is as far ahead as anyone could be.