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No... physical media will not save Xbox.

Two things could (maybe) put Xbox on top:

1. A catastrophe that severely damages PlayStation's position. (The end of physical media in 2028 is just a minor scratch, far from a catastrophe.)
It needs to be something major. Like a widespread defect with the PS6 or a dramatic drop in the quality of PlayStation games for a long period, like 10 years.

2. Xbox making a risky and agressive bet. Sustain the bet for many years bleeding trucks of money and focusingon 2 things:

A. Sacrifice a massive amount of money producing exclusives. ( I'm talking full exclusives, meaning drop PC, or at least Steam support. )

B. Create exclusives of overwhelming quality—superior to any other publisher on the market. A run of exclusives that, for instance, would be the most awarded and acclaimed titles during five separate periods over the next ten years.

Sure, a combination of these two factors also works.