Because based on it's INT4/8 capabilities the XSX is half as fast with ML than an RTX 2060. And a 4K upscale on an RTX 2060 takes 2.5ms. That means it will take ~5ms on the XSX which is more than 1/3rd of the frame time at 60fps. This may still be worth it, but it's also dependent on this single dev studio creating a model that's comparable in quality and performance to Nvidia with all their $billions in R&D, access to the worlds fastest ML supercomputers, synergy with their own hardware/tensor cores and massive ML experience (being the world leaders in the hardware that runs it and all).
So while I'm not saying it's impossible. I do think it's sensible to take any such claims with a massive pinch of salt until real world results have been shown and independently verified. After all, "ML upscaling" could mean almost anything and doesn't necessarily have to be comparable to DLSS which is outputting anywhere between 2.25x - 9x the original number of pixels.