No, you don't need an nvidea card that costs more than your computer to do raytracing in minecraft. It is possible even on AMD's "old" RX580 (though the alpha software still has bugs), and their new RX5700 seems to work fine.
That said, and while I have to admit that it does make MC look awesome, I'm not going to buy even a $400 GPU just to play MC! Not a big fan of bleeding-edge driver/software bugs either. Maybe in a couple years when the next-gen cards come out, all the bugs have been worked out, and the GPU prices on the now-current get knocked down to a couple hundred $$ because they're now "old"...
(Sorry for the delay in in responding.. haven't had much free time lately so didn't see your post.)
I'm not sure there's any sure-fire way to make it interesting. MC is a sandbox game so it helps to be able to come up with your own goals and side-arcs. While there is something of a goal in things like the ender dragon and the end cities I find that I get more enjoyment out of implementing the wild ideas I get along the way.
I also find that it is more fun as a social thing. You do have to watch out for people who are just into griefing though. If I can find some good people to play it with then I tend to get more enjoyment out of it however. (I actually wish that the devs would work more on this aspect. If they had an in-game voice chat it would help a lot IMHO, especially if they spent as much time on rendering ambient sounds as on - for instance - ray-traced graphics. Imagine caves that sound like caves, monsters in caves, with a bunch of fellow players getting creeped out listening to monsters in caves, in VR... )
I also play on "hard" a lot, sometimes even permadeath, just to make things more interesting. I get that's not an option for people who don't like survival mode.. just my prefs.
Some of the new content helps too. I too got jaded and stopped playing for a number of years. I think it was just after horses were introduced, which would have put it sometime around 2013. I didn't start up again until relatively recently with the aquatic update. (So ~2017.) If you haven't played it recently there's a lot of new stuff to discover at least, and the pace of introduction of new stuff seems to have picked up in recent years. Some of the new stuff does make it more challenging, as well as provide more opportunity for creativity. The whole village/raiders dynamic makes finding and protecting a village/villagers a nice side-arc/distraction for instance, if you're into that sort of thing.
And of course, newer hardware makes the game better too. The first system I ran minecraft on could barely run it at single-digit frame rates even at a render distance of 4 or 5. Amazing at the time, but MC at that level doesn't have much holding power. Now I can run at 50fps even at a render distance above 30. Combine that with the new biome/content and it makes just wandering around and looking at the scenery a lot more enjoyable. Things like ray-tracing are continuing and enhancing that aspect. (Again, if you're into that sort of thing.) Better hardware also makes the game more responsive and therefore easier to control and less frustrating to people that aren't e-sports gods. I still get a bit of lag occasionally, but nothing like the situation where the screen freezes for a minute and when it unfreezes you're dead sort of issues I had in hardware eras past.
Also, it sounds like this doesn't apply in your case but I could never get into the handheld ("Bedrock") version. If you haven't tried the full desktop version then give that a shot before giving up. (The java version works great on linux btw.)
hth...