So when they underclock the i7-6900K to 3.0GHz, an 8C/16T part, and put it head-to-head with a 3.0GHz 8C/16T Zen they get about the same performance. That's great that they have, effectively, the same IPC as Broadwell-E. The i7-6900K is a $1000 CPU; if Zen comes out significantly under that then it's going to spur a small price war. If Zen is priced close to Broadwell-E then we'll probably see AMD making money again. Either one is good for everyone except Intel. Of course Zen and AM4 would need to come in with similar technology as X99, namely, 40 PCIe 3.0 lanes, quad channel memory (or bandwidth > 50GB/s without insanely fast DDR4), and PCIe 3.0 x4 NVMe M.2 slots/U.2 ports. With the lack of SATA Express devices and the meaningless improvement to 10Gbps with NVMe being 32Gbps AMD should've skipped implementing SATA Express entirely.
Downside is we already know Broadwell-E and the i7-6900K can overclock from 3.2GHz to 4.3GHz from the THG review, and 4.0GHz is apparently trivial. That's a 33% improvement AMD needs to make from "early silicon" to production. People aren't paying $1000 for a 3.2GHz 8C, they're paying $1000 for a 4.0GHz+ 8C/16T.