That's a 1-hour flight, plus an hour to get to ORD, plus getting there the recommended 2 hours before the flight time to clear security and board, plus baggage claim at MSP. Flying is still faster, but the train is far more chill. High-speed rail would completely beat a plane.
But also, the train makes intermediate stops. I've seen a number of Chicago people on social media excited about taking the Borealis to Wisconsin Dells, and that travel time is pretty comparable.