In Rhino WIP - that is upcoming Rhino 7 the render engine of Rhino Render is powered by Cycles. Here are some examples picked from our very own #gallery section
I haven’t seen too many architectural renderings yet, but you should be able to do that just fine with Rhino Render in Rhino 7 (and Raytraced in Rhino 6, as they are powered by the same engine)
Some examples of the render engine used outside Rhino maybe can show you its capabilities:
On Netflix you can find the film Next Gen, also rendered with Cycles.