The lack of details on pricing is very telling - it's the first step in rolling out vaporware meant to slow down development for competitive platforms (i.e., ARM SoCs). This is a classic fear, uncertainty, and doubt tactic originated by IBM and perpetuated by today's incumbent large hardware manufacturers like Intel.
In theory, the 400 MHz Pentium-class Quark processor Edison is based on is roughly 1.3 times the performance of the Pi's 700 MHz ARM CPU (estimated to be roughly equivalent to 300 MHz Pentium II performance), but the Edison will reportedly be dual-core. So, with a proper Linux distro splitting processes across cores, overall performance could reach about 600 MHz Pentium-class, taking into account the overhead of multiple processor coordination, process setup and teardown, interleaved memory access, etc. While it won't suffer Windoze virus/worm/Trojan-horse vulnerabilities, x86 C and assembly-level exploits could still exist.
As noted, there is no GPU and I haven't looked to see what FPU capability Quark has, but this isn't based on an existing GPU-oriented SoC as the Pi is. Few Pi applications make much use of its GPU beyond the streaming Internet media function the Pi's Broadcom BCM-2835 SoC was designed to perform, so this isn't much of a differentiator. It's not clear what kind of advantage an SD card sized system can have with battery-draining WiFi and Bluetooth apparently meant to be the only way to accomplish I/O. I don't see any mention of analog I/O either, which Arduinos provide at least for input, e.g., via sensors. If sensors are supposed to be off-board and accessed via Bluetooth with their own power demands, that's going to be a losing proposition all the way around.
The creepy factor of having an infant wearing an RF-emitting, virus-prone x86 system is nothing short of amazing. What were their marketing and PR people thinking when they came up with this use case? Well, obviously, they weren't, and technology without common sense is worthless. We see this sort of thing in SillyCon Valley all of the time - geeks completely out of touch with the real world as to what people really need and want to do. I should know, I've been one of them, but I come from humble beginnings and spending time with relatives and friends during holiday opportunities brings the important things in life back into sharp focus. Silver-spooned Stanford graduate CEOs with eight-figure salaries plus hundreds of millions in future stock grants (no options for them - are you kidding?) who have things like a private nursery for their infant built next to their office while terminating all telecommuting for their employees, not so much.
Other than power-hungry x86 cores, at least we now know what form factor and features the Next Generation Pi will have ... thanks, Intel!
The best things in life aren't things ... but, a Pi comes pretty darned close!
"Education is not the filling of a pail, but the lighting of a fire." -- W.B. Yeats
In theory, theory & practice are the same - in practice, they aren't!!!