Do you also remember that Intel cheated their way into this lead by altering the X86 instruction set to perform better on their chips? AMD has made some unfortunate decisions (Bulldozer), but it's not entirely their fault.
Zen is the work of Jim Keller, the same guy that made the successful AMD64 uarch back in the day (as well as the Apple A5 IIRC), and his work seems to have paid off if the rumors and AMD's own showcasing are any indication. AMD is dead set on being competitive in the high performance market again.
Now, I agree that it all remains to be seen (the Bulldozer failure is still very fresh in our minds), but if the performance does match modern Intel uarch but at a lower price, I don't see why Apple wouldn't use them in at least some models (specifically, models with integrated graphics). After all, lower price is higher profit.
Either way is a win-win situation, because more competition means more effort by both companies. Seems like it already started, since Coffee Lake i7
will start at 6 cores instead of 4.