I won't rule it out, but it's unlikely. The game is just too big. I have a good reason to pick it up on Switch, as I never owned XC1 on Wii (I played it on a disc borrowed from a friend shrewd enough to pick it up at launch), but I don't know if I'll ever have the patience to sit through it a second time for another 100 hours. The overworld and main quest are unforgettable, but I always found XC1 bloated with a lot of systems that I couldn't be bothered to pursue exhaustively (Colony 6, the NPC affinity-building, the endgame superbosses that are way above the level at which you complete the main game), and I don't see why that would be any different now. Without that, I've already seen what I want to see, apart from the cut content that is being finished and restored.
The character artwork of the original looked dated from the start and I'm glad to see it, and so much else, receive an overhaul in a remaster made to last. This edition needs to do more than that, though. I don't know if it was addressed on 3DS, but the inventory system in the original was an absolute nightmare—mountains of indistinguishable collectibles and not enough room in your inventory to actually hold them.
Those environments, though... why yes, it's alluring to think about running around in them again in HD.
For a series where I've put in a combined 400 hours or so—making it one of my most-played series this decade—I'm not convinced my admiration of the Xenoblade games is proportionate to the opportunity cost of the time they have vacuumed out of my playing schedule. It would be very nice to have the Switch port of XC1 in my library as something for a rainy day (or to invert metaphors, an intergenerational drought), if I can afford that kind of luxury. But I'd really have to get caught up in the hype to spend another 100 hours on this rather than one of the many, many other replays I could be doing—another route/difficulty in Fire Emblem, Master Mode in BotW, the expansion pass content for XC2 (I've played Torna but not anything else), my barely started run through Okami HD (an excellent port of a game that means a lot more to me, but which I haven't found the time to sit through)... the list goes on and on, even if you're only talking about additional playthroughs of games I've cleared before.
That said, XC1 is wonderfully endearing in ways that paper over its many problems and pockets of nonsensicality. It's the definition of something greater than the sum of its parts (and oh, there are so many parts). Newcomers are in for a treat, and this game really did need a cleaned-up, accessible edition to preserve its legacy.