Porting our code to run well on such machines is a bet people should start making.
Intel could sell bottom bin Xeon Phi chips as development systems. I don't care if half the cores have failed testing and are masked off or it won't run at full speed.
Developers always have the computers of the future on their desks. If Intel wants Phi to be part of that future, they'd better put them on developers' desks.
Most of the time, my laptop is doing workloads that would leave an Atom bored to death, but when I need it, I sure love those i7 cores.
I would gladly sacrifice one i7 core for 4 Atom ones, provided the OS knew what to do with them.
I don't think they target the same kind of applications anyway.