Reading it, it seems very similar to the Playstation 3 Cell, with its fate mirroring it very much.

A highly specialized processor that has very high computational throughput for specialized operations, but a quite limited scalar unit.

In both cases you really have to write software specifically for it to get it to perform with any reasonable speed. If you do that, you get great value, but any existing code will need significant modifications to perform.

Granted AVX512 is (now) more common than SPE code ever became. It is slightly better than the Itanium approach, but scalar performance (especially single threaded) will have limited the value you get from this CPU, unless you write your own software and it can utilize AVX-512.