A nice tweak sure but also irrelevant as a consumer. It just results in one less component on the motherboard, it doesn't change any functionality.
> much faster clock speeds
Relative to what? Last year's 4c/8t 14nm i7-10510U has a higher boost frequency than any of the chips announced today, and it's also a 15 W TDP CPU. The 4c/8t i7-1185G7's 3ghz base frequency is nice I guess but barely higher than last year's 4c/8t i7-8569U at 2.8ghz base - and both are 28W TDP. Probably, anyway - the 11th gen is listed in the '12-28 W' category but as it's the highest base freq of the listed quad cores I assume it sets the top end of that range.
If there's a power improvement here, which is possible, it's not clear in the spec sheet, and I think nobody is buying Intel's marketing claims at this point. So we won't have reasons to be excited here until reviews hit, if a reason to be excited for this exists at all.
> greatly improved graphics
This is an great upgrade, but only for Intel. It's playing catch up to the Ryzen 4000-series, which means it's not exciting on its own for consumers. Exciting in that competition drives price wars & overall stronger ecosystem, but on its own? Super boring.