$700 for the 16-core 7950X chip is well into HEDT price range, and while this has the CPU oomph everything else is missing. It's more $/core than what EPYC launched at, with a 16 core EPYC 7281 running $650. That had half the MHz & wasn't as good an architecture, but it also 128 lanes of PCIe (3.0 in Naples then 4.0 in Rome) and 8 channels of memory, versus 28 PCIe lanes (5.0!) / 2 channel memory (oof); that's a huge advantage.
Hopefully Intel can start shipping new process nodes again & the competition can come-back.