This move is to attract AMD customers back to Intel, so while in the short term it could hurt revenue, longer term it may mean increased profits and therefore offer more room to invest. There's also the potential for increased sales at the lower pricing, which will still have a profit attached. So I doubt that overall this will have much impact on investment.
Is a discounted chip price going to sway people enough to
offset the hotter core (therefore pricier in terms of power and cooling), and limited (in comparison to EPYC) IO?