Does anyone think AMD's upcoming Zen architecture will be enough to contend with Intel?

There's not enough info yet to even speculate.

I do not know a lot about the Zen architecture but it is very interesting. I personally think that AMD Zen will be rivaling Intel although I think that Intel will come out with some counter for the new Zen architecture. Though I do agree that as of now Intel is does pack more punch.

I research CPU/GPU hardware about 20 hours per week. I am a Unified Communications specialist so I need devices that use a small power envelope but pack a large amount of video processing capability. Intel has the low power envelope and AMD has the video capability. It is no contest either way Intel has faster single threaded processing capabilities so the more cores they add the faster they go. It is like 10 to 20% faster dollar per dollar CPU wise with heavy power consumption advantage to Intel thanks to a small manufacturing node currently at 14nm vs AMD 28NM. AMD has a vastly superior GPU core "100% faster under any GPU bound test". but AMD does not use simultaneous single core virtualization "hyper Threading". This turns into a big disadvantage. Not because AMD cant do better but the primary platform they use "windows" does not efficiently use multiple cores, This makes for a problem as AMD does in fact have 8 core designs currently. Intel does not have this in the consumer space and it goes underutilized anyway. The trick is L3 cache which you will see AMD has none of in any of their processors. this is included in Zen. Zen will have up to 8 physical "logic" cores and two schedulers for each just like Intel, but it will have that GPU advantage as well as HSA "GPU no longer has to wait for draw calls from CPU" and can execute redundant CPU task without direction from the CPU. Windows 10 has both HSA and true multi-processor "can trigger to logic cores and schedule cores". If Intel cannot get down below a 14nm manufacturing process then AMD will leapfrog them for the first time in 10 years. Intel also does not support HBA yet, and AMD is first to market with that now. Think about a CPU and GPU simultaneously accessing memory that had a 8092MB bandwidth. if this all comes together like it appears to be AMD having the GPU tech they do will be in a position where they have no actual performance or efficiency competition. But Intel will continue to dominate thanks to Contra Revenue "giving CPU's to Vendors to keep competition out of the market"

If Zen comes out it will be a game changer, provided OEM's actually use it.

I think the enthusiasts here will be more interested in desktop rather than laptop CPUs. And they'll want desktop CPUs that can run powerful discrete GPUs.

But I don't think we're a big part of the total market. More an interesting niche.