Physically Based Rendering: From Theory to Implementation

There are applications (Zemax, for example) that are used to design optical systems (lens arrangements for cameras, etc). These applications are eye-wateringly expensive-- like similar in pricing to top-class EDA software licenses.

With the abundance GPU's and modern UI's, I wonder how much work would be involved for someone to make optical design software that blows away the old tools. It would be ray-tracing, but with interesting complications like accounting for polarization, diffraction, scattering, fluorescence, media effects beyond refraction like like birefringence and stuff like Kerr and Pockels, etc.