I'm working with both now to find out if ON1 can do all that I need. The difference between older versions of ON1 and C1 where much greater (in favour of C1) but the ON1 2020 edition has improved a lot esp. for Fuji shooters.
So far I think C1 is still better in color editing, the Fuji film profiles (quite a bit better), b&w controls and still somewhat better in sharpening and noise reduction. ON1 has a better digital asset management (importing, culling, keywords, managing raw+jpeg...), some very nice effect filters and is easier to use. However, note that presets and filters in ON1 can easily become a bit 'too colourful' and 'over-edited'. You have to hold back a little bit and apply the opacity slider generously.
With 'easier to use' I mean that in ON1 some adjustments are combined in handy filters you can apply, whereas in C1 you need to combine multiple tools to achieve the same results.
In general: C1 is IMO more aimed at professionals and high-end users, while ON1 is aimed at enthousiasts. I don't use pano stitching and HDR so for me there's no clear winner yet... but if I would do pano and HDR I would definitely download the trail version of ON1 and have a very close look at it.
Dear Fujifilm!
You are so good at developing cameras with retro feelings! It would be very interesting if you went a little further and made a color variant that look old like brassing. Especially for the new x100V it would have been my first choice. What do you mean? Is that a good idea?