If the new AMD cards are using HBM and something besides 28nm, Titan 2 will not be competitive. Nvidia might have something at 1080p if they aim for 144hz, but outside of that, it'll get destroyed, specially at 4K or surround/eyefinity. And if Bermuda and Fiji are on a smaller node, Nvidia may not be competitive with dollar per square mm per die, which means they won't be able to compete on price.
I'd expect 2015 to be a year of Nvidia losing in GPU performance. When they lose, they just talk about how great they think their software is and how great it is to have PhysX for the one good PhysX game that comes out every 3 years. 2015 will be the year of the Nvidia gimmicks. G-Sync, CUDA, PhysX, Gameworks, etc. They'll push these things so hard because that's all they have when they lose on hardware. However, it's going to be a difficult fight. AMD is basically going to go "look at all this cool stuff you can do with Mantle! Star Swarm can display so many more units on screen, you can use multiple GPUs far better, you can use your APU iGPU for other calculations, etc" and Nvidia will go "but Gameworks has some cool shader based anti aliasing and we have cool particles with PhsyX!"
Fottemberg at S|A is claiming Broadwell-K may be flat out cancelled. If that's the case, it'll be Haswell vs Piledriver on HEDT for all of 2015. If the problems are with 14nm and not the Broadwell architecture, AMD may be in a position to pit Zen against Haswell in HEDT. If Zen is comparable to Haswell in single core performance and there's an 8 core Zen, Haswell is going to have a lot of work cut out for itself.
AMD having a platform with SKUs that range from $100 budget chips to $500 8 core Zen, they'd completely destroy Intel in HEDT. Intel segmenting HEDT into enthusiast and "HEDT" might be something they massively regret in 2016.
I realize some of you think HEDT is a complete waste, but Lisa Su has already stated there's demand for high performance x86 cores from semi-custom clients in the last quarter interview. HEDT is the dumping ground for reject parts.
If AMD could manage to get a Zen core to be about a Haswell core, and can deliver 8 core Zen for ~$500, it'll be a very bad year for Intel. I hope AMD has figured some way to share some core resources to significantly reduce die size without sacrificing as much as they did with the Bulldozer family. Seeing AMD match Intel performance with a smaller die would be K7 and K8 all over again.
I am really optimistic with AMD opportunities. It seems like Nvidia is fumbling with VRAM and now Intel might be fumbling with HEDT.
Also, in before the regular claims from the usual suspects that "Broadwell-K is cancelled because of lack of demand!"