Underestimating Intel
A lot of people are still underestimating Intel. This announcement is just evidence of a big team of engineers developing the platform, they have spent the last couple of Atom generations integrating existing Intel tech, hyper threading, power saving tech from Sandy/Ivy bridge, memory controller....
They have been doing this at a rate of major new generation every 12 months, far quicker than the competition, and whether you believe the benchmarks showing Intel more efficient that ARM or not is irrelevant, the fact it is up for debate any any one can build a phone based on the design and it be some where usable means Atom is somewhere close, 2 years ago it was not in the same ballpark.
Now Intel are close they are going to start pulling the trump cards, in the next 14 months we are going to see two more major releases including big upgrades to performance and efficiency such as out of order processing, 64bit, higher core counts, along with 2! full node process shrinks. In most processor family's that's 3-5 years worth of Moore's law Intel can bring to bear in 14 months.
This is a one off windfall Intel are going to get by making Atom a first class product line. If I were ARM I would be very worried about the performance of the next couple of Atom designs and how you compete with a product exceeding Moors Law, they don't want to be squeezed into the value end of the market, it didn't do much for AMD.