Although it looks to be a very good camera and it's compact size is especially appealing, it's no replacement for the Xt30ii, neither for that matter is the XT50 (being much larger and heavier.) The 30 is a perfect sweet spot between convenience and pro-sumer features.
the perfect replacement for the budget-friendly Fujifilm X-T30 II: No, without any sort of viewfinder it's not much better than a phone which seriously hampers its capabilities and user progression.
Fujifilm divided its community earlier this year when it launched the X-T50, with many calling it overpriced, and others criticising it for failing to adequately appeal to either beginners or experienced hobbyists. The Fujifilm X-M5 looks to be a massive course correction, offering everything a beginner mirrorless camera should at an affordable price.