Russ, in my opinion the key words on the WiMax presentation are"fill-in technology". In order for it to be comparable to the Stratellite it would have to be compliant with existing AND future technologies.
Usage of the 802.16 standard of WiMax requires a global upgrade on the user-end as a vast majority are now @ 802.11b/g. Also, I don't see WiMax as THE answer, due to its range of 3-30 miles. The stratellite has a range of 300,000 sq miles. They can be complimentary technologies in the future though.
Also, this is only a portion of Intels business plan, lets not forget they are primarily a microproccessor company with their fingers in everything nowadays from Voip to the creeation of the Digital Home.
This is only my LITTLE opinion on the BIG issue though. :)