It depends on the quality of the LCD panels too. There wouldn't be much of a difference between an average amoled panel and a decent lcd panel. Sure the difference in contrast will be there since its amoled but not much. For instance, i had Poco X3 ealier and I didn't miss my amoled panel on Realme XT because the lcd panel on X3 was of good quality. A friend on another forum also concurred the same. It will all boil down to the quality of the panel used. Like 19-20 ka fark hain.
Now we know Xiaomi is known for giving great hardware, atleast on the phones. If they are thinking for opting the same business models, it could be a good product. Honestly, there would be more clarity once the product is released and reviews are made.