What to think about Xi's move all depends on motive and outcomes....

If Xi simply wants to consolidate his power so he can become a megalomaniac like Mao, and replace Mao's face with his on the money, then I'd say China is in for another hard-landing. But I don't think this is his motive.

On the other hand if Xi wants to consolidate power so that he can use it to reign-in the 'other' voices among the party powerful, and instill a sense of purpose among the people, along with some leadership, he could make many changes for the good in China, and set it on a positive course.

If he's as smart as I think he is, he's consolidating this power at the right time. China doesn't quite have economic or military strength to truly become a 'world-class' power broker. The US has been in slow decline for some time, although it's been really accelerated by Trump, and with the US abdicating its role from the world stage, someone has to fill this void. And I think Xi wants China to be that country that fills it. They've always wanted to 'Be Like Mike'.  They emulate us in everything they do, and in every field of endeavor.

I think Xi senses that China may have a real opportunity soon, and he wants to be in a good position to take up that world leader mantle. He certainly doesn't want the world to fall into chaos, as that means disaster for him and the commie government. Plus there really isn't any other power on the planet that could take up that role.

So by consolidating with these thoughts in mind makes sense. He will have less trouble from 'other-factions' of the party that might slow him down - and there are more 'other-factions' than most people think, including those in DC. Which could blunt any attempt he might make to try to turn China into a mega-power house.

Personally, I think this is reason for the consolidation. Although the outcomes will be very difficult to achieve... It's a delicate time in China, and indeed in the world. What happens in the next 4-6 years will shape the remainder of the 21st century...