You know that every part of a Raptor can "bolt-on" to a standard F150, right? There's some electro-trickery the Raptors have that may be different than a standard F150, but a when Ford builds a Raptor, it literally boils down to bolting on different parts than non-Raptors.
I don't care for FCA one bit- believe me, but I do not doubt for a second they could build a Ram TRX as capable, or even far more capable than a Raptor. Their engineers understand chassis dynamics and can tune shocks for a high speed off road environment just as well as Ford's can.
The real question is can FCA make something better than the Raptor for a similar price. Given the general crap quality of their stuff- it's going to have to be better and cheaper to pull a lot of sales long term. I don't see that happening. If they build something that actually is a "Raptor killer" I think it's going to be very expensive and sell in low numbers for a few years before it's killed off as part of the next gen Ram truck.
We'll see I guess.
By "bolt-on" what I mean is an AutoZone special and what a high-school tuner kid can do in a weekend. Lift kit, swap shocks, put on larger wheels, slap on an after market blower, add some cheesy aftermarket lights, etc. As compared to all the engineering optimization that went into the Raptor to redesign many components like the suspension arms and upgrade the engine's internals to better handle the higher power and heat while sill maintaining 250k mile reliability. Even the frame has been upgraded for the Raptor. Doors and sunroof are shared with the F-150, but it is easier to think of major components are are unique to the raptor than what is carried over from the F-150. And Ford did all this upgrading while still dropping over 200lbs from the G1.
GM already admitted their Trailboss is mostly a cosmetic, lightly modified Silverado and downplayed its off-road competitiveness. I suspect the TRX will fall on that end of the spectrum, but in hellcat/trackhawk style, it will have eye-popping HP numbers that will get the bro-dozer crowd whipped into a frenzy.
Without a doubt FCA could turn the TRX into their "moon-shot" and spend hundreds of millions to dethrone the Raptor off-road. But will they? Of course not. Number one, they cannot afford to. And number two, that's not the FCA way. They have been the also-ran in the US auto industry for a long time and that won't change anytime soon.