Yes. If anything, they already have.
No. They have a long way to go.
Well, to be fair, I don't think comparing CDPR and Bethesda is very fair. Sure, they both make open-world RPGs, but that's really where the comparisons stop. They pursue different goals with their games. CDPR pursues to tell the story of a fixed character, and they did do a fine good job. The other pursues to make the player tell their own story with character creation. But, if we were just going with who's just better: i'd say CDPR's games are better simply because of writing, storytelling, and atmosphere. I just love good stories.
I adore both companies but Bethesda have been doing Open World RPGS for longer and as a result they have a much larger fan base and gathering along with bigger universes that appeal to a larger audience. Fallout appeals to people who love apocalyptic settings or Elder Scrolls for Fantasy players. While Projekt Red does have a huge fan base as well they just don't have the power to pass Bethesda for a long while. I do believe that they will be able to do it but they have a very long way to go and they have a lot of things to compete with.