Quite simply no because the Series X won't be that powerful.
PC has a few distinct advantages which the series X will struggle to compete with:
1. Modding (games like Skyrim are completely transformed, games like Witcher 3 10x better to play with QOL enhancements, gameplay patches)
2. VR - Valve Index is on PC, Oculus store is on PC, this is an entire dimension of PC gaming unavailable on the XBOX
3. Input methods - we can use (with ease) any controller, keyboard, mouse, wheel flawlessly. Mouse and KB being very superior for FPS games.
4. Displays and aspect ratios - any refresh rate, any aspect ratio (32:9, 16:9)
5. High FPS gaming: on PC unless you have a crap developer, the sky is the limit on your FPS. I will take a big guess now the next gen consoles won't be 4k/120hz any high demanding AAA games like TLOU2. 30FPS will still be a thing.
6. Instant re-master of titles. I can 4K-remaster the Mass Effect series at a click of a button. I can re-master it again with high resolution beautiful textures if I download a texture pack and follow some instructions for 15 minutes.
7. Streaming/Twitch/Social - way easier on the PC with the possibility of multi monitor, your own custom microphones,
8. Entire backlog intact: My backlog from the last 10 years is available to me at a click of a button
9. Game costs; you can go probably a few years not buying many games if you just subscribe to the PC XBOX game pass and Humble monthly. The negative of this is you can't re-sell games easily on PC tho.....
I can go on and on and on. There are way more advantages.
The XBOX will always be better value for money. So will the PS5. They provide enough of the experience alongside exclusive games that for anyone who doesn't want the absolute best, they should step away from the PC.
However for losers who want the best graphical fidelity and methods to tinker like myself, we're going to be stuck getting bent over by NVIDIA for a little while longer.
My PC acts my HTPC, video editting machine, web browser, music player, gaming PC, social machine.. so its crazy cost is a bit easier to stomach when you compare it to a games console.
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Then again I typed all that crap but I'm still gonna buy a Ps5.