I think one thing that all gamers can agree on is that while fire and smoke effects have come a long ways in the last two decades, those still have a long way to go. NVIDIA has been addressing this in it GameWorks catalog for developers for a good while now. GameWorks FLOW has been in beta for about a year now, and yesterday NVIDIA pushed out a video of a demo of FLOW in action using DX12. No matter what you think of GameWorks, this video is worth a look.
NVIDIA Flow is GameWorks' latest offering for combustible fluid, fire and smoke simulation, following in the footsteps of NVIDIA Turbulence and FlameWorks. The Flow library provides DX11 and DX12 implementations, and will run on any recent DX11 or DX12-capable GPU. The fluid simulation in NVIDIA Flow is modeled on an adaptive sparse voxel grid for maximum flexibility with the least memory impact, and is optimized for use of Volume Tiled Resources when available. NVIDIA Flow-1.0 is available today via Github repository through the NVIDIA Registered Developers Program.