The main CPU is substantially faster than the Pi, but it doesn't have HW accelerated graphics, so it's not a speed daemon for desktop/workstation type use.
As for the Epiphany, assume that it'll be slower than most GPU's for tasks that GPU's are good for. That is, if you can make do with few instruction streams, the Epiphany is not well suited for it, as most GPUs will blow the current chips out of the water in terms of performance.
If, on the other hand, your problem is poorly suited for GPUs due to lots of independent instruction streams, it may be better suited.
One of the most interesting aspects of the Epiphany is that is can also be connected into a grid - each chip has four high speed links that can be connected to other Epiphany chips, or be used to interface with the main CPU or off-chip memory.
The cores can all access each-others memory without any special instructions, including that of the cores on other Epiphany chips that are hooked up via the external links - the only difference between in-core and out-of-core memory access is the speed.