I'm really very bearish on this idea. When Intel bought Altera there were really 3 issues. The first was that they drove growth by bundling their FPGA stuff with their fabrication services - so like someone like Ericson could do half their design on FPGA and then slowly move to ASIC. That was good for Intel because it won them business, but it didn't really do anything for FPGAs.
The second thing was bundling FPGAs into the same package as a CPU. There were two problems with this, firstly it's a load of dark silicon when you aren't using the FPGA part and you have to make a load of tricky decisions like "Am I going to design my thermals to let me run all the Xeon cores at max speed whilst running my FPGA". The other problem being that it's really bloody hard figuring out the programming model, where the FPGA wants a deterministic data flow and you've got these CPU nutters throwing memory at you out of order, stalling and screwing you up with really bizarre cache behaviour. Since the CPU guys designed the interface it leaves the FPGA developer an almost impossible task to build efficient processing pipelines.
Finally we've got the moonshot - the idea that you could come up with a high level design language to programme FPGAs like software. Intel very heavily invested in this when they bought Altera but I'm still not seeing any forward progress on this, and let's be clear, Intel poured huge resources into making that happen. The last I heard they had over 100 engineers on that project and the sum total of their achievement is a handful of "partners" who wrote OpenCL/HLS/whatever and then worked with the engineers to go through a grueling process re-writing their code over and over and over until it looked like the RTL they already wanted. At one point Intel were going to re-write their entire FPGA video IP suite in HLS, I don't know how they went, but the acquisition of Omnitek probably wasn'ta good sign. It's been 4 years since the acquisition, and they were working on it long before then. The project is still basically just a load of marketing guff on their website that no one can actually use. I would say with the innevitable restructuring that Intel will have to do due to their various other fuck ups, this project is on thin ice.
The problem is that AMD is so likely to fall into the trap of points 2 and 3, and we're going to lose the final big independent FPGA company so that AMD can kill themselves trying to compete with Nvidia. And the real danger is that whilst all that's happening, actual innovation will disappear in the FPGA space. Xilinx's ACAPs are actually interesting (one way of solving the programming model), but Intel's last piece of innovation in the FPGA space died with the failure of hyperflex.