If the performance scales proportionally to the number of cores and if intel keep its promise when it comes to price, then the arc series should really be interesting bargain. If you know you wont be playing one of the numerous game that has some support issues by the driver...
It’s good to have more competition for sure. But Intel will not be competitive in their current gen and potentially next gen GPU. Unless of course the next gen is on course for next year, otherwise, they will be 1 gen behind when it comes to performance.
Can you blame them? If your customers are willing to pay the price and you're making sales, from a business perspective theres no reason not to, especially when it comes to expensive multi year development efforts like creating GPU's. Also to be fair these last couple of years have been weird, they typically are cheaper at retail, currently you can pickup RX 6600's for less than RTX 3050's and 3060's. The RX 6600 wipes the floor with the 3050 in everything except ray tracing, and even there its within 10%, and is mostly on par with the 3060 in anything not ray tracing while being significantly less than both.
Sadly it looks like Arc is already discontinued. i.e. I wish Intel could have stuck it out and competed with AMD and NV in the discrete business. Lots of articles today about how they decided not to go forward with it those interested can do a search.
I find it very strange that Intel's marketing is putting so much time and effort into marketing an allegedly dead-end product. If management already made the call to cancel the whole thing, it may make more sense to scrap the wafers to avoid having to support cancelled GPUs for the next 3-7 years.