So, does Lexus now have to catch up to Genesis?
If you answer yes, you are admitting that Lexus is still, even after 30 years, an immature, not-yet-established luxury brand; you are admitting that Lexus is still (like Genesis) a "me-too!" brand.
If, however, you answer no, you are admitting that Lexus is now a mature and established luxury brand that has the courage to stand up for itself and offer its own, unique lineup of vehicles.
I think it can be a bit of both.
Looking at interior and exterior design (the most obvious form of brand expression), Lexus has now settled into a unique identity that is clear and individual. Looking at LS, LC, IS refresh... I love it and you can tell it's a Lexus. Flagship product feels special, while even entry level products look good and have a family resemblance. Lexus has done this much better than the Germans, IMO, where a $35k C class looks like a $120k S class.
Looking at their product mix/identity is much more scattered where F has come and gone, RWD product seems to be taking a second seat to FWD, we're still waiting for next gen everything outside of LS, LC, ES and UX, hybrids, BEVs, etc. I was thinking the transition to TNGA would put some of these product pieces together but it seems to be taking longer than we anticipated. So... I think within the next 5 years, the Lexus lineup should be more cohesive.