Intel is the newcomer here and based on those links it doesn't look that promising however to be sure we have to watch them in action,see the hash rate,power consumption and stability of this Arc GPU before jumping to conclusions.In normal conditions when a new competitor wants to enter in a business area he usually brings a better product compared to the competition (if he is serious about his business) and also a bit cheaper just to get the market share.Let's see how Intel will play this game.
True and I do hope they will shake the GPU industry to boost it up, new engineers, new point of view, new vision, technology need that to advance.
Else it's funny how NVIDIA CEO reacted to the announcement of the GPU programming toolkit, he appear to be scared of this competitor
https://www.pcgamesn.com/nvidia/intel-one-api-jen-hsun-huang