AMD is today announcing GPUOpen, a comparable set of tools to GameWorks. As the name would suggest, however, there's a key difference between GPUOpen and GameWorks: GPUOpen will, when it is published in January, be open source. AMD will use the permissive MIT license, allowing GPUOpen code to be used without any practical restriction in both open and closed source applications, and will publish all code on GitHub.
http://arstechnica.com/information-technology/2015/12/amd-embraces-open-source-to-take-on-nvidias-gameworks/ Wow..
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The only thing is, I don't see this trickling down to MMOs
It won't really be a game changer since NVidia will bribe all the people who make engines, much like PhysX. Probably the only ones affected will be Square Enix, and several medium sized developers who create their own engines. Most smaller developers license an engine and just don't use the technologies like PhysX.
Still even if there was wide scale adoption, it won't really affect how the GPUs perform. Most of the time when AMD helps a company develop around their GPU it runs just as good or better on NVidia GPUs. Like DIRT.
And the part about engine licenses - yeah, unless the big engines (Unity, Unreal, etc) include the support baked in, it won't see wide-spread use.
It also makes sense to have this alongside Vulkan, which will be an open standard, and certainly is going to get used with heavy backing from Valve, nvidia, AMD, Intel, Google, and others.