Promising to price their GPUs based on their performance in "Tier 3"* games will certainly help them win a lot of consumer goodwill though, especially with Intel targeting the critically underserved low and midrange gaming GPU market.
* For those OOTL, Intel has grouped all games in to three tiers based on driver optimization and graphics API usage. Tier 1 is DX12/Vulkan titles they have specifically optimized for. Tier 2 includes all other DX12/Vulkan titles. Tier 3 is DX11/OpenGL/older DX. Nvidia and AMD have had a decade+ to optimize their drivers for higher level APIs like DX11, including hundreds of game/engine specific optimizations. The result is ARC GPUs performing notably worse in DX11 titles than equivalent hardware from Nvidia and AMD.
Intel's promised pricing structure means that Your $250 ARC GPU will perform about as well in most Tier 3 games as a $250 RTX or Radeon. Meanwhile, Tier 1 and 2 DX12/Vulkan software will likely outperform competing devices in the same price range.