AMD's catchup project did largely meet expectations. In most common tasks they're close enough in IPC, and generally offering more cores/threads at a given price point. I'm not sure I'd call it a breakthrough though. Did they bring something new to the end user experience? They had no choice. To keep playing, they had to either catch up, or they throw the fight. General market penetration remains to be seen. Even if they are making some inroads in enthusiast areas, this is only a tiny part of the market. Once the platform matures enough, it will be interesting to see how business uptake goes.
What I find more interesting is how Intel reacts to this in future. Not today, as they don't need to do much immediately, but it will be very interesting to see how X299 develops, as well as what mainstream options they offer.