You know, call me crazy, but Atom really doesn't look all that bad for just how bad it is.
I think my expectations for the Atom platform (in general) have substantially increased lately.
Maybe it's bad, but other stuff (including a lot of ARM stuff) is just worse? For some metric.
The recent numbers from Anand's reviews and the chart Nebuchadnezzar posted are the first I've seen anyone investigate peak power usage on mobile SoCs - normally one looks at power consumption under idle, light or specialized loads (web browsing and video playback respectively), and performance under heavy loads (for one thread anyway.. and unfortunately almost always Javascript)
And I'm sure this is how the industry wants it. There's certainly merit to seeing the CPU capabilities of phones being mostly only needed for burst activities; at least in web browsing scenarios this is the case and many appear to be viewing phones as little more than web browsers (despite Apple's massive "there's an app for that" marketing). Here Intel can especially capitalize with its turbo boost technology, and also because of having cores that are at the moment doing very well in Javascript vs ARM.
But there are of course cases where consistently moderate or high CPU load matters too. Some that I'm more interested in, like emulators, are pretty niche, admittedly. But at least some games will tax a lot more than web browsing. I wonder if there aren't more tasks that could be done but aren't because people don't want to push for those sorts of workload, or if the form factor naturally inhibits it.
Nonetheless, I'm pretty sure mobile SoCs are not just optimizing for idle/low CPU but are doing so at some expense to peak perf/W. At least, going with leakage optimized processes ups the active voltages. I know Intel is using such a process for Medfield (and have been for Z series in the past, AFAIK), but I don't know if they were using it for the old D variant 45nm Atoms.
What I'm interested in is if the first big.LITTLE A15 + A7 SoCs will follow the kind of specialization nVidia applied in Tegra 3. If Samsung's 28nm Exynos 5 comes designed this way it might be able to hit peak CPU utilization without nearly as much of a hit to power consumption.