Meh, they are coming into a market very differently to AMD/Nvidia are, so their approach simply won't be the same.
When Nvidia started the market was massively massively growing for discrete cards, thats just not the case now. Back then a substantially worse card still sold, and developement wasn't at the same levels of cost or complexity at all so a failure wasn't a huge deal, just move on to the next card like Nvidia/Ati did back then.
Now you really need something completely competitive either on price, performance or both or it simply won't sell.
Intel could release a duff product or do whats been expected for a long time and make products that are largely just tested internally for a few generations as they learn the ropes of making a fully fledged fighting gpu for the top end. Thing is they have the pockets, the people and time to do what they want.
I'm not sure exactly what Rroff thinks is bad performance compared to a 280gtx, 1/4 of the performance of Nvidia's top end card right now, on an unreleased not seen not final driver and completely not optimised for card is actually downright impressive.
Likewise at the design and testing stage its far cheaper and faster to make what you'd consider mid or low end parts and simulate high end speed, for testing its the architecture that matters not the final speed. Have 50 5870's, or 200 5470's to test on, which is cheaper and better off the same waifer. The 5470 has all the same functionality as the 5870, just less of it, but when it comes to optimising, testing and theorising that doesn't mean anything.
I wouldn't be surprised in the least if what Intel's playing around with is not the best they can make in terms of speed, architecturally though should be identical.
If Nvidia/AMD were a non presence in the market right now, they couldn't just make any old card release it and see what happened, they'd also need to go through several generations of cards internally before having something ready, thats how it goes when entering established markets.
I also wouldn't take any notice of their intergrated when talking about what they can or can't do, its this simple, the intergrated needed to output a signal, and it does that fine, they've hit all their design goals, any additional features you get are gravy. Their drivers and features might suck, but thats because there was no need for them not too.
They've already been buying up lots of small programming firms that focused on paralel programming, its likely lots of those people, and probably a few stolen off Nvidia/AMD for better wages, will make up a completely new and completely different driver team to the intergrated guys.