https://www.bhphotovideo.com/c/product/1959142-REG/intel_33p...
When 32GB NVIDIA cards seem to start at around $4000 that's a big enough gap to be motivating for a bunch of applications.
So it's closer to half the speed than a tenth. Intel also seems to be positioning this card against the RTX PRO 4000 Blackwell, not the 5090, and that one gets more like 300 INT8 TOPS. It also has less memory but at a slightly higher bandwidth. The 5090 is much faster and IIRC priced similarly to the PRO 4000, but is also decidedly a consumer product which, especially for Nvidia, comes with limitations (e.g. no server-friendly form factor cards available, and there are or used to be driver license restrictions that prevented using a consumer card in a data center setup).
AMD R9700 is 378/766 tops int8 dense/sparse. 644GB/s of 32GB memory. ~$1400. To throw one more card into the mix. Intel undercutting that nicely here.
You're right that for companies, the pro grade matters. For us mere mortals, much less so. Features like sr-iov however are just fantastic so see! Good job Intel. AMD has been trickling out such capabilities for a decade (cards fused for "MxGPU" capability) & it makes it such an easier buy to just offer it straight up across the models.
Intel is not looking in the future. If they released Arc Pro B70 with 512GB base RAM, now that could be interesting.
32GB? Meh.