Most 10/40/100GbE switches currently consist of a Broadcom fabric and PHY ASICS and a low-power Intel CPU running Linux or a similar OS (Cisco excluded, but even they are starting to use merchant silicon now).
From what Intel are offering in this presentation, I can't really see where they provide an advantage as the competing Broadcom-based products have been in the market for 2+ years.
For the "virtual switch" option - again, there are already similar offerings in the market that run on the VM CPUs so I don't see the benefit of a "network CPU". The CPU-intensive stuff for SDN would be run on standalone controllers in a big environment and SDN wouldn't be needed in a small environment.
The cynic in me says Intel will charge more for a solution with less features and another Intel networking product line will gradually disappear....