Actual performance data isn't out yet, but just because it has more HP doesn't mean it's faster. And there's no way the ford will beat the corvette on the track. Take the 2019 Porsche 911 for example. It's a 370 HP engine that runs 0-60 in 4 seconds. Then the 2020 GT500 with 760 HP runs 0-60 in "mid 3 second range" because they haven't disclosed the exact number. That's not a big difference considering it's less than half the horsepower. I'm willing to bet in a comparison of 0-100-0 times, the Porsche 911 would destroy the GT500. Corvette is similarly lighter weight and much more stable. Or course the aftermarket for an LS2 is already crazy populated. So to increase the HP on the Corvette wouldn't be hard at all.
I'm a "ford guy" myself, but given the choice I'd take the new Corvette over the GT500. But I'd also take the Ford GT over the Corvette.