The revolution here is not that it is as good as the competition, but that it might have a much better price, leading to a much better price/performance ratio.
If Intel is patient to compete for lower grade GPUs for a few years without killing its GPU line, then we might see them competing for the top in the future. And the top is where the big money is. They'll also need a CUDA compatible API to stand a chance, but they have time.
The only thing that saved Intel until now is that Nvidia can't legally produce x86 CPUs, although they tried.
If Intel is patient to compete for lower grade GPUs for a few years without killing its GPU line, then we might see them competing for the top in the future. And the top is where the big money is. They'll also need a CUDA compatible API to stand a chance, but they have time.
The only thing that saved Intel until now is that Nvidia can't legally produce x86 CPUs, although they tried.
The more competition, the better.