I generally agree with Woomack's post above. There are many ways to look at Ryzen, separately and as a system. There are good points, there are bad points, and most will ignore those if the price is right.
Agner Fog's recently updated architecture guide generally praises Zen, saying that per core per clock it generally has more potential than current Intel. I say potential, as it isn't manifest in single thread, and needs SMT to use that potential. This confirms earlier results showing cases where single thread IPC was below Intel, but it goes ahead with SMT. As we've suspected and later confirmed, the biggest weakness relative to Intel is in AVX2, with the usual "who needs it anyway" arguments coming into play. Ram bandwidth was also a concern, but this is in part mitigated by the large overall cache size.
IPC is one thing, but clocks are a "could do better" area for the enthusiast market. I'm choosing to operate mine at low OC (3.6) and low voltage to make use of that power efficiency, as the extra voltage and power to get gains beyond that add up rapidly. Personally I think the offering of select models around 4 GHz mark is enough to be competitive. Ok, it isn't the 5 GHz OC but that is a tiny niche.
Pricing is obviously a significant factor, and is in large part why in other tech forums I see a significant wave of recommendation to R5 for budget new builders. It will be even more interesting when R3 arrives.
But is that enough? For example, I saw on offer yesterday a laptop for £180-ish. It is only dual core Celeron, 4GB ram, 64GB SSD, and even comes with optical drive! For casual users, that's a whole computer for comparable cost to R5 CPU by itself. For a lot of casual users, that's enough. Is the gamer and other heavy lifting market enough?
I really hope Ryzen will lead to a reduction in Intel pricing, particularly in >4 core parts, but I'm not holding by breath. My other fear remains that by making Zen, let's call it "AVX lite", Intel may follow in future to keep cost competitive and we will start getting less features for our money.
On that note, the 1600 seems to have dropped enough in price since launch I might fill my 2nd mobo again and retire some i3 systems...