It is certainly good enough to compete, prioritising Fab capacity to Server unit and lock in those important ( Swaying ) deals from clients. Sales and Marketing work their connection along with software tools that HPC markets needs and AFAIK is still far ahead of AMD.

And I can bet those prices have lots of room for special discount to clients. Since RAM and NAND Storage dominate the cost of server, the difference of Intel and AMD shrinks rapidly in the grand scheme of things, giving Intel a chance to fight. And there is something not mentioned enough, the importance of PCI-E 4.0 Support.

I wanted to rant about AMD, but I guess there is not much point. ARM is coming.