Ryzen actually looks pretty spectacular. Even the lowest end Ryzen is competitive with Intel's Highest-end i7; not only does it have twice as many cores, but it still seems to out-perform it in single-threaded workloads- despite the cynicism.
Based on what I've seen, Intel will have to respond. When your competitor's low-end product is shown to outperform your highest-end released product- and even their highest end product is cheaper, that's requires a response. Here's hoping this time they compete by making better processors, not crippling their Compilers to run like garbage on all AMD chips.
It seems that AMD may be poised to have a complete takeover of the "Gaming" market, which has been dominated by Intel since the release of their original Core-series processors.
The only thing now is to wait and see if independent benchmarks are able to reproduce the exemplary performance characteristics that AMD showed off.