They reportedly made some prototype 4000 series cards, so I wonder if they saw a problem in the spec and that was the final straw.
It's barely an upgrade over your 1050 Ti.
I urge you to check out the Gamers Nexus benchmarking of it before you consider buyinug it. https://youtu.be/La-dcK4h4ZU
https://www.intel.com/content/www/us/en/products/docs/arc-di...
Intel GPUs are great if you want the best linux drivers and they do AV1 decode and encode.
If you're, for example, a gaming streamer, or you need to encode CCTV or other kinds of footage and stream it as cheaply as possible, or if you do video editing in DaVinci resolve or other apps, then the AV1 accelerator capabilities of such a budget GPU are a godsend.