If the same blob was included in chip's ROM, nobody would think it's different from before right?
Yes, we would think it's different because it is different. When the functionality of that blob is in a ROM chip or circuitry, nobody can update it, including the proprietor, without hardware modification or hardware replacement. When the functionality is in software or any kind of reprogrammable device, the question becomes who is allowed to run, inspect, share, and modify that code. This is an important ethical distinction that the developmental philosophy of the younger open source movement was designed to never raise as an issue because that movement wants to pitch a message of cheap labor to businesses.
All the questions of software freedom enter the picture because you're dealing with software now. All the issues that the open source movement was designed not to raise (older essay on this topic, newer essay on this topic) the older free software movement raised over a decade before the open source movement began.
If this code were distributed as Free Software to its users, this could be great news for all of us (even the majority of computer users who will never fully take advantage of these freedoms because they're never going to become programmers). Programmers can accomplish wonderful practical benefits like putting in interesting features, fixing bugs, learning from the code, all while being friendly with others by giving or selling services based on improving that code, and helping to keep users safe from malware all along the way.
If this code is distributed as non-free user-subjugating software (a.k.a. proprietary software), the proprietor (Intel in this case) is the only party who can inspect, share, and modify that code. And users (regardless of technical ability) are purposefully left out of controlling their own computers, which is unethical.