1) I hate to say "year of desktop Linux" like every year, but with the Steam Deck release later this year, and Valve's commitment to continue investing and collaborating on Proton to ensure wide-range game support; Linux gaming is going to grow substantially throughout 2022, if only due to the new devices added by Steam Decks.
Intel has always had fantastic Linux video driver support. If Arc is competitive with the lowest end current-gen Nvidia/AMD cards (3060?), Linux gamers will love it. And, when thinking about Steam Deck 2 in 2022-2023, Intel becomes an option.
2) The current-gen Nvidia/AMD cards are insane. They're unbelievably powerful. But, here's the kicker: Steam Deck is 720p. You go out and buy a brand new Razer/Alienware/whatever gaming laptop, the most common resolution even on the high end models is 1080p (w/ high refresh rate). The Steam Hardware survey puts 1080p as the most common resolution, and ITS NOT EVEN REMOTELY CLOSE to #2 [1] (720p 8%, 1080p 67%, 1440p 8%, 4k 2%) (did you know more people use Steam on MacOS than on a 4k monitor? lol)
These Nvidia/AMD cards are unprecedented overkill for most gamers. People are begging for cards that can run games at 1080p, Nvidia went straight to 4K, even showing off 8K gaming on the 3090, and now they can't even deliver any cards that run 720p/1080p. Today, we've got AMD releasing the 6600XT, advertising it as a beast for 1080p gaming [2]. This is what people actually want; affordable and accessible cards to play games on (whether they can keep the 6600xt in stock remains to be seen, of course). Nvidia went straight Icarus with Ampere; they shot for the sun, and couldn't deliver.
3) More broadly, geopolitical pressure in east asia, and specifically taiwan, should be concerning investors in any company that relies heavily on TSMC (AMD & Apple being the two big ones). Intel may start by fabbing Arc there, but they uniquely have the capacity to bring that production to the west.
I am very, very long INTC.
[1] https://store.steampowered.com/hwsurvey/Steam-Hardware-Softw...
[2] https://www.pcmag.com/news/amd-unveils-the-radeon-rx-6600-xt...