This is just off the top of my head. Is there something special about SPARC that would make it remarkably good at some specific application that Oracle uses?
Something that a lot of people don't realize (or forget) about SPARC is that the new chips (T1 and T2 series) excel at concurrency - lots of requests getting serviced at once. This happens to be something that a database needs, too. So I'd say owning SPARC (the 'source' of which was actually open-sourced!) is a pretty good thing for Oracle.
I'm more interested to see how Oracle re-brands (or doesn't) the Sun product line.
FWIW, Sun and Intel engineers have had an excellent working relationship for the past few years, so I don't think keeping SPARC necessarily means trying to fight Intel.
The trouble with computers is that they do what you tell them, not what you want. -- D. Cohen