InkScape has the upper hand, only that it is constantly being developed by hundreds to thousands of contributers from all over the world... all who are not limited by the "one company / one goal / one mind" theory. And most who do not require to be paid for their contributions. (this is where the open-source community really shines through)
I guess we will have to see where the competitiveness goes now that Magix is involved? Will development of Xara lag behind, under the thought that Xara is good enough as it is? Or will they strive to out do InkScape?
It will be very interesting to see.