Affects 1.16.221.
Yes, the issue has been resolved with the latest Alpha skip-Ahead update released today.
As of the most recent Xbox Insider Alpha Skip-Ahead update (build RS_XBOX_DEV_FLIGHT\21306.1003.210202-2245) released on February 4th, 2021, Minecraft does not work at all on the Xbox Series X. My console was not and has never been previously enrolled in any of the Minecraft Betas. When attempting to launch/load the game it will not load past the red Mojang start up screen. The game crashes and brings you back to the Xbox home menu without prompting you with any sort of error messages. It also appears the game is not considered launched by the console as when you try to "force quit" the application after failing to load, it does not give the "quit" option. I have attempted to solve the problem by hard restarting my Xbox Series X and uninstalling then reinstalling the game but neither fixed the issue. It should also be noted that once you attempt to load Minecraft and it fails, if you try to load another game or application the entire console will crash and turn off, then essentially hard reset itself by loading from the xbox start up screen.
The YouTube link provided shows the issue. You will notice the video goes black for a few seconds, that is when the console powers off and crashes, and has to be restarted. https://youtu.be/lMB1LJTZcnU
This was not resolved. It may be a duplicate but if you view the bug report that the bot directs you to, it was closed due to not having enough information.