Well maybe or maybe not. The 4Runner is not really a hardcore off-roader unless you get some of the really high specced ones and even then it comes with a wimpy V6 and is uncomfortable etc. I think there'd be room for a Prado in the US market especially with a turbo V6, more gears in the trans, better cargo and towing stats, and more offroady stuff standard. Similar to how the Tacoma and Tundra overlap slightly but the Tundra still starts in the low $40ks whereas the LC starts at $85k.
The LC isn't really a hardcore off-roader until you spend a small fortune building one out.
They're definitely very capable off-road in stock form, but I wouldn't call that "hardcore". If they started marketing a more off-road version of the LC in the US, it would absolutely compete with the 4Runner, as that's how the latter is marketed here. The LC is marketed as more of a "luxury" vehicle (though we all know better, lol), while the 4Runner is marketed as a more utilitarian/off-road vehicle. Toyota already has the GX in this market, so why would they bring in a Prado to compete, when that's pretty much the exact reason why they're keeping the LX in the US, and removing the LC?
Also, keep in mind that Prados are typically cheaper than full LCs everywhere else in the world. A Prado in Australia sells for about $59k USD, not $85k like a full 200-series LC. A TRD Pro 4Runner starts at around $51k - that's not a big price difference between the two. Some toe-stepping will likely occur...
And I'd struggle to say that the Tacoma and Tundra overlap at all. V6 vs. V8, 3,500-6,800lb vs. 8,800-10,200lb towing capacity, mid-size pickup vs. full-size pickup. That's like saying a Ford F-250 competes directly with a Ranger. They're not even in the same category of trucks. The only similarity they really share is that they're both pickup trucks.
When we take off our LC fanboi blinders, it becomes clear why Toyota won't be selling the 300 series in the US, and why they probably wouldn't introduce a Prado in this market. The US LC sales over the last 10 years speak volumes. I'm surprised they kept it here as long as they did, TBH.
Then again, I've been wrong before...
Honestly, I hope I am wrong. I'd love a Prado LC in the US market. I'd love a 70-series even more. I just don't see either happening, based on the LC sales numbers here. Toyota's best bet is to build a more capable stock 4Runner with lockers, factory lift kits, bigger tires, etc. That would do a better job of competing with the Bronco, IMO.