1) The article text is wrong (and doesn't match the pics of the slides). The chip demonstrated today is Knights Corner which is a new part, not the older Knights Ferry SDV.
2) When counting flops we need to distinguish between single precision flops and double precision flops. You're comparison isn't valid -- Knights Corner was shown sustaining over 1TF on a double precision code. Nvidia's most recent flagship GPU has a theoretical peak of 515GF/s but sustains less than 225GF/s on the same DGEMM operation. Knights Corner is sustaining 4-5x that, and this implies that it's theoretical peak is higher again. AMD's GPUs also cannot touch this with a single chip. Their dual chip 6990 has what looks like the same theoretical peak but far lower practical performance due to being more of a graphics part than a compute part (e.g. look at the cache structures).
You are correct that these are real cores, each with a wide vector unit. If we wanted the equivalent of GPU "cores" we should multiply out by the vector width per core.