They will likely try to leverage AI to reduce rendering like AMD. I suspect this is literally announced to show that Intel is still relevant and to prevent more bleeding from that company. They did similar when Apple dropped them. Rather than make better chips, they released a mass marketing push to show they were every bit as good as Apple silicon if not better.
I love my steam deck and I doubt I would be replacing it any time soon, but if someone comes up with something with a more appealing form factor, like something that can fit in my pocket then I’m sold. It doesn’t need to be super graphics intensive, just needs to be able to play some easy to pickup-and-play games like stardew and slay the spire.