It's the biggest game of the year and the biggest new game for quite some time. That said, I'm not convinced it will be just as huge on consoles (relatively speaking) as it is on PC.
Speaking about how big PUBG could be for Xbox in particular, what's the measurement for success here? People buying an Xbox? I'm sure some could buy an Xbox for that "crazy Battlegrounds game" they've heard so much about. But PUBG doesn't exist in a vaccum. There's still CoD, which goes back to WWII and should interest a lot of people who've skipped the last few games. There's still crazy popular GTA Online and Destiny 2 will be in full swing.
I could totally see PUBG failing to translate its PC success on consoles. But we'll see. Would be mighty interesting to see this new game giving the established franchises a run for their money.