I think this is silly on intels part. If ATI wasn't owned by AMD, it would be different, but you are essentially handing over all the enthusiast graphics money to a direct competitor
So say someone buys a high-end system with a Nehalem and two Radeons for CF. Intel still sells the CPU, but they also hurt Nvidia because now ATI sold 2 GPU's that otherwise might have been Nvidia's. So yea, AMD gets money out of it, but AMD isn't going out of their way to compete in the high-end market, so Intel wasn't really hurt by it. In fact, they gained because Nvidia got hurt.
Just my 2 cents