This issue is resolved as of the recent insider update.

As of the most recent Xbox Insider Alpha Skip-Ahead update (OS build RS_XBOX_DEV_FLIGHT\21306.1003.210202-2245) released on February 4th, 2021, Minecraft does not work at all on my 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 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 it will cause the entire console to crash and turn off. Once you restart the console it will act as if it was hard reset by loading from the xbox start up screen instead of signing you in directly to the home menu (if you have instant start up enabled on your console like I do).

The YouTube link provided shows the issue on my Xbox Series X. You will notice a part of the video goes black for a few seconds. That is when the console crashes and powers itself off when attempting to start another game after failing to load Minecraft. https://youtu.be/lMB1LJTZcnU

Additional Information regarding Xbox One's: The game also fails to launch on my Xbox One X that is updated with the same Xbox Alpha Skip-Ahead build. However, on the Xbox One X console the game does not crash and return to the Xbox Home menu immediately like it does on the Xbox Series X. The game loads into the red Mojang Start-up screen but then goes black. While in the black screen the consoles guide will not show. For example, if you attempt to display the Xbox Guide to return home or force quit the game, it will not display. Only after waiting on the black screen for about a minute will it return you to the Xbox Home screen without prompting any form of error alert. Additionally, failing to load Minecraft and attempting to load another game on the Xbox One X does not cause the console to crash and power off like it did with the Xbox Series X. Ultimately, Minecraft does not seem to be playable on any Xbox console that is enrolled into the latest Alpha Skip-Ahead update. 

Youtube link provided shows the issue on my Xbox One X. *Note- I repeatedly open the Xbox guide when launching the game to show it failing to display while in the black load up screen. https://youtu.be/toZB1G6cC-A

Update: This issue is still occurring in the newest Alpha Skip-Ahead build RS_XBOX_DEV_FLIGHT\21308.1005.210205-1318 released on February 7th 2021.