It depends on what you want out of an XC bike, if you want to be at the pointy end of an XC race, then no this is not the bike, you'd have to replace...well everything, including the frame. If you want to make it more "XC" like that then upgrade, and I mean major upgrade, there is nothing wrong with the bike as it is to go off and ride XC or do some races, it will be perfectly fine. But if you want to go more XC then think $1K+ (we're talking NZ$?) for forks, same for wheels, same again for drivetrain/brakes, then another bunch for seat, seatpost, set and bars and tyres. So somewhere like $2.5-3.5K so it's "better". Nothign wrong with upgrading or changing stuff, go for your life, its fun, but you have to realise it's diminishing returns.
Trail is a pretty wide defining category, it describes bikes that are really XC bikes through to bikes that are all mountain bikes and everything in between. So just because something is labled trail doesn't mean it is perfectly excellent at something else.