I think there's a good chance they'll fail. This is true of any new venture, so it's a bit lame to say, but there are reasons:
Right now I have a fairly decent GPU in my Macbook which I've hardly used. Very little supports it, because it's not nVidia. I can't use it for AI training, for example. Sure, it might work ok for some games, but Macbooks aren't really for gaming, and nVidia has captured that market nicely anyway.
Things can change; maybe Intel's software stack will be incredible. I don't know. But they have quite a hill to climb before they reach that summit.
There's ROCm[1] though. It's just almost every ML platform blindly bent to the NVIDIA vendor lock-in. CUDA is a disaster, like DirectX was back in time. One day it will go, hopefully soon enough.
Intel has good record to provide software, contribute to OSS, support for developers to support hardware than AMD, so possibly they can do better than RADEON on some world if they can provide great hardware.
Right now I have a fairly decent GPU in my Macbook which I've hardly used. Very little supports it, because it's not nVidia. I can't use it for AI training, for example. Sure, it might work ok for some games, but Macbooks aren't really for gaming, and nVidia has captured that market nicely anyway.
Things can change; maybe Intel's software stack will be incredible. I don't know. But they have quite a hill to climb before they reach that summit.