Hmm, the US press around this story is suggesting that Intel will be building processors aimed at delivering security applications, not that McAfee will be integrated into Intel cores in general - try
this analysis.
That would make much more sense to me, we're seeing a big move towards "Appliance" based processing, where you buy a specialised piece of kit to perform a function, for example a database appliance or a data deduplicating appliance. In this paradigm, a security appliance makes a lot of sense
Of course, those of us "of a certain age"
(*) may look at this appliance based computing & say something like "Didn't mainframes work like this when we were young?"
(*) A euphanism for "Grumpy old b*****r"