To factor out the impact of technology, present technology-independent power by scaling all processors to 45nm and normalizing the frequency to 1 GHz.
The implicit argument of the paper is that Intel could produce a direct size+power+speed replacement for a phone-scale ARM processor, they just need to dial the knobs to small+small+slower. The counter argument is that they have tried but not come close. The Atom line is roughly comparable with respect to speed, but size and power are a problem. The Galileo processor is roughly comparable with respect to power and size but speed is horribly lacking.
The question for Intel is dialing down the profit knob: how much of a hit do they want to take on each unit shipped, by competing with ARM for tiny phone chips.