I sure hope Zen will be competitive. It is obvious that Zen will consume more power than the current AMD cores. I guess AMD will go for as fast as I7 or maybe just a few single digit percents lower but at a cheaper price.
I guess that is the only way for AMD to release a competitive product if it consumes about the same and performs about the same but is cheaper.
If Zen consumes more power than current AMD cores, and is just as fast as an i7 but at a cheaper price, its still not a very good deal, because you have to identify with AMD parts you're talking about.
If you're trying to compare apples to apples, Zen will have 95W and 125W parts for high-end desktops. They'll have to compete against the Core i7 7700K because that'll be what's out by the time Zen is released. I assume a 7700K part would be around 95W like the current i7 6700K.
If Zen is 125W upon release, and its going up against an i7 7700K, then Intel is still the victor, because power consumption becomes an issue. Why would I buy a Zen CPU and spend an extra $100 - $200 on power over its lifetime?
Let's suppose AMD prices it at $199.99. And the i7 7700K is priced at $370. I'm still better off buying the Intel CPU if I keep my machine on a 3-5 year upgrade cycle.
Furthermore, AMD power consumption massively increases, historically, with overclocking, which I would argue most high-end CPU purchasers tend to do. Nowadays, most folks pick up a water cooler for even higher gains, which means even more power consumed.
Look no further than the FX-8350 overclocked to 4.5 - 4.8 gHz to see rampant power consumption.
Zen needs to be 95 watts, and within 5% - 8% of a Core i7 7700K at $199.99 - $249.99 to entice anyone but the AMD faithful away, or it needs to be 125 watts and exactly on par for $199.99 with good overclocking capability and reasonable power usage at high frequency. Otherwise, its dead in the water.