Intel's play to control the networked hub centers around chips powering 'entertainment PC's' and LCoS chips which will kill the price of HDTV's. And investing heavily in firms building home networking technologies, as it's been doing for a while. Read the article - it's pretty good.
I think their strategy is far better than Microsoft's, which is similar, but more monolithic, centered around the Extender. The biggest difference is that MS's strategy will center a DRM deathstar hub (read: 'Media Center'), whereas Intel likely won't be that stupid.
Here's another nice piece about hyperimitation in this space.