Processor graphics is one of the best inventions so far.
I don't know if I would go that far. Sure, overall, in terms of BOM cost, integration is a good thing generally, and if OEMs can get away with building a system without a discrete GPU, then that's good for their bottom-line.
But as consumers, sometimes you get stuck with lackluster graphics, and as far as CPU costs versus performance goes, the R&D money spent on improving the iGPU cores ("EU"s, in Intel-speak) and the die area, could have gone towards improving the performance and number of actual computational CPU cores.
Sure, in a perfect world, we could use the iGPU processing elements in mainstream software. But has that happened yet? AMD launched a bold plan, with their HSA initiative, but that seems to be treading water lately, along with most of the rest of their company, until they can get Zen out the door, and see some significant profit again.
Edit to add: I've experimented with using the iGPU on a Skylake i3-6100, the HD 530, to do computation. Using BOINC, and attaching to the project "Collatz Conjecture", and logging into the account on the web site and configuring it correctly (to allow usage of Intel iGPUs), then you actually CAN utilize the compute features of the Skylake iGPU.
Only problem, and I'm not sure if this has to do with the limited number of compute elements in the HD 530, or what, but it bogs the entire OS UI down horribly. Clicking things takes like two seconds to respond.
I've successfully used GPU compute on my 7950 3GB GPU, on my other Skylake rigs, and it doesn't slow down the UI any noticeable amount at all. Scrolling still smooth, UI responsive, can still listen to internet radio though the card's HDMI audio output.
Whether this is simply down to the sheer number of compute units available on the 7950, or down to the app utilizing them (leaving some free for the UI), or even AMD's "async compute" feature, in which they can thread compute with graphics, I don't know.
All I know is, Intel is functional for GPU compute, on modern iGPUs (Haswell and especially Skylake), but it sucks, in practice. AMD APUs, and dGPUs, fare much, much better.