I think Wizz missed a trick here though, they initially were ahead of the game and got a better deal deal with both Modlin and Budapest than Ryanair, but for some reason, they then started a price war with fares for around a euro between a few destinations which are never going to be sustainable long term for them, but FR are going to be able to sustain it for a lot longer.
They won the first battle but then backed themselves into a corner, as a war with way below cost pricing is at the end of the day will always favour the company with the stronger balance sheet, and the biggest fleet and the lower the prices go the more the smaller rival has to lose. Which makes it all the more bizarre that they resorted to that price the moment that FR announced such routes.
Still, Wizz do have a niche and are more well known in the CE and EE market than Ryanair in several countries and can use this to their advantage. There problem will be though I don't think they are going to do that much for inbound tourism to the likes of Budapest and Warsaw because quite frankly you ask an average person in most Western countries and they've never heard of them whilst Ryanair is well known almost everywhere.