I don't see Xbox Series X|S as actually providing much competition to the PS5. And I'm not trying to take a stance of fanboyism, I just don't see it doing as well outside of North America and the UK.
So I do think the PS5 will hit 130 million sold before it's all said and done. Switch and PS5 will be complimentary platforms for each other. Both pushing hardware to new heights, as typical.