The coolest thing here might be the speed: for a given scene RenderFormer takes 0.0760 seconds while Blender Cycles takes 3.97 seconds (or 12.05 secs at a higher setting), while retaining a 0.9526 Structural Similarity Index Measure (0-1 where 1 is an identical image). See tables 2 and 1 in the paper. This could possibly enable higher quality instant render previews for 3D designers in web or native apps using on-dev…
In raytracing, error scale with the square root of sample count. While it is typical to use very high sample count for the reference, real world sample count for offline renderer is about 1-2 orders of magnitude lower than in this paper.
I call it disingenuous because it is very usual for a graphic paper to include a very high sample count reference image for quality comparison, but nobody ever do timing comparison with it.
Since the result is approximate, a fair comparison would be with other approximate rendering algorithm. Modern realtime path tracer + denoiser can render much more complex scenes on consumer GPU in less than 16ms.
That's "much more complex scenes" part is the crucial part. Using transformer mean quadratic scaling on both number of triangles and number of output pixels. I'm not up to date with the latest ML research, so maybe it is improved now? But I don't think it will ever beat O(log n_triangles) and O(n_pixels) theoretical scaling of a typical path tracer. (Practical scaling wrt pixel count is sub linear due to high coherency of adjacent pixels)