Because Hogwarts Legacy was broken at launch on AMD cards. This is how it stacks up to an RTX 4080 now.
In typical games with ray tracing, the 7900 XTX usually performs in the same ballpark as an RTX 3090 or sometimes 3090 Ti. Of course, the more intensive the workload is, the more NVIDIA cards pull ahead to the point that in pure ray tracing (path tracing) benchmarks, it loses to a 3080 quite easily. But path tracing is hardly relevant since I doubt Sony will have any games running it on the PS5 Pro.
Additionally, the fact that AMD is so far behind NVIDIA in ray tracing should actually make you doubt AMD's ability to catch up to them, not the other way around. You're using the 4070 as a reference for the PS5 Pro's RT performance when it's an NVIDIA card. You should use an AMD card and it doesn't look good at all, unless you suddenly expect AMD to match NVIDIA in the next round. Not impossible, but given AMD's track record over the past decade, I wouldn't bet on it.