Intel has been rolling out the IDF for 20 consecutive years, where they showcased the latest chip architecture and a variety of other products. But now they are forced to stop the event because they have changed the focus of the company that PC centric into data centric.
The impact of the removal of the IDF is currently not measurable, especially since Intel has not yet created a successor event. But it seems now Intel will spread its product launch separately, not at once as is usually done in the IDF.
Intel's move is actually not surprising, because many other companies that have done it first, such as Apple and Microsoft. Now rather than holding a massive launch event, they chose to hold small but more frequent events to attract more attention.