Bay Trail is no competitive knockout and the situation with the 14nm successor will almost certainly be much worse
Bay Trail CPU performance is absolutely a knockout. It beats Krait 400 and Cortex-A15 hands down, on nearly every benchmark. And you think a 14nm shrink will somehow make the situation (much) worse? I really don't understand your point, unless you meant much worse for Qualcomm, or nVidia.
If you're worried about graphics performance, note that Intel has another new architecture for 14nm parts. Bay Trail is hardly noncompetitive, but I'll grant you that it's not leadership, either. The 14nm shrink with Gen8 graphics should bring with it a significant performance CAGR.
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