Clearly, it looks to be Intel vs. its competitors...isn't it? Intel (and Nvidia) wants to go on its own. I agree with you on the need for an efficient and successful execution of this initiative. Looks like lots happening in the SoC field. Though this initiative looks to be majorly on the open & unified programming software part, I think some point of time there will be some kind of specs for hardware as well. Some point of time FPGA manufacturers also might join in?
Presumably there's nothing to stop this initiative including MIPS processors as well right ? Imagination are involved as founder/near founder members and the point is to make this stuff hardware agnostic.
Phil Rodgers, president of HSA has rightly pitched the state of electronics industries to promote common and open source programming language to handle complex integrated features of any processor. The companies not joining HSA will be on loosing counterpart as ARM is gaining more spread of their processors and being modular in nature if HSA goes right all the way it may an event of losing business.