By standard metrics of next generation releases, I would say Xbox Series at this point has not even entered in the next gen.
It's a bit depressing tbh. All news is about resolution, fps, ray tracing, gamepass, vrr and pretty much nothing about gameplay nor dualsense or 3D audio. If you don't have a 120fps VRR tv you might as well not bother with this gen. That's what it feels like at this point.
XBox is delivering the ultimate gen 8 console, but I would rather have a gen 9 console and experience.