They aren't really comparable. An FX-9590 at 4.7GHz is about 300 GFlops, but the the Xeon Phi 31S1P is slightly over 1 TFlop --- more than 3x as many floating point operations per second. The spec that probably shows the most difference is memory bandwidth. The FX-9590 with 1866 memory achieves 30GB/s. The Phi reaches 320GB/s, about 10 times as much. The presumption is that you might put 4 of these in a server, in addition to the standard processors.
The price is actually quite a bit better, too, as some vendors are offering the Phi at $125 each in quantities of 10: http://www.colfax-intl.com/nd/xeonphi/31s1p-promo.aspx
This article offers some good information about cases where the Phi is a good (or bad) choice: https://software.intel.com/sites/default/files/article/33016...
The short answer would be that the Phi might be the best choice in cases where you need to perform billions of energy efficient floating point operations on a working set small enough to fit in the cards RAM, where the degree of branching is such that a "normal" GPU would be inappropriate, and where the problem justifies considerable programmer time for optimization. Financial and scientific models are the usual examples.