I think the biggest difference between ray-type algorithms is everything vs ray-marching, because regardless of recursion, and strategies towards lighting, texture sampling and physical realism, with ray-marching a single ray is not really a ray at all but lots of little line segments, and you don't usually bother finding explicit and intersections which gets really complex and expensive... that's the whole point, instead you find proximity or depth, which means you can render implicit surfaces like fractals.