Why would anyone buy this priced around 300-400? It makes no sense, especially with next gen GPUs incoming. Maybe they can push it into those bad prebuilt PCs. If any new product wants to make a breakthrough into the market it has to deliver comparable performance to established brands for significantly lower cost - I dont see that at this moment.
Any new GPUs from Nvidia or AMD in this price range probably won't be coming until early next year. And considering you still can't even find a 3050, 3060 or 3060 Ti at MSRP, if these cards can offer more performance in most games at a lower price, they could be viable options.
And at least according to Intel, they will be pricing the cards based on how they perform in DX9/11 titles, while the cards are shown to be more capable in DX12/Vulcan, where driver performance isn't holding them back. So, it's possible that performance could end up more like cards positioned a tier higher down the line, as more future games are released with the newer APIs, and as driver performance improves. I suspect the pricing will be competitive, as Intel tends to price their products competitively when entering new markets, and they will likely be willing to forgo profits for this first generation of hardware in favor of the hardware being positively received.
I'm interested in seeing how they perform and exactly what their pricing will be like, along with how their feature-set will compare at launch. It's probably best to wait and see what the actual hardware is like before dismissing them based on little more than pre-release drivers running on an entry-level card that's not even being sold in this market yet.