Our last XC90 was a 2016 T6 Momentum and so had a very similar turbo 4 to the Ascent - power and mileage felt very similar, though the Volvo was likely a little more peppy (though required 91+ gas). That hybrid you are considering would be much more powerful than the T6 and Ascent - it was a big jump in price and wasn’t yet available in 2015 when we were looking to replace our 2012.
Interior space and layout was pretty similar. The kids seem just as happy in the Ascent. The XC90 has a super clean finish inside which looks great, but could be a bit of a pain when needing to fiddle with the touch pad for anything. Overall, the Volvo did have a more luxurious look and feel (for whatever that’s worth).
The main issues we had were maintenance ones, basically from the start of owning the 2016 Volvo - perhaps because it was very early production on the updated new model. This just got worse after the warranty ended and problems over the last 2 years with water and wiring meant it was time to move on. Above all, just grateful to be driving now without constant worry of the maintenance light coming on, and knowing we have some predictability for the next 7 years (that’s as long as the Canadian extended warranty runs for) in a vehicle that’s well designed for a big family and for our winter driving.