It's an easy way for CMU to get some funding. Can you think of a better way than to set up a bidding war between Microsoft and Google ? Of course, Intel's no lightweight, though Qwerk uses an ARM9, which is definitely not IA64, so their presence in the mix makes less sense unless they're positioning to have future versions run on Intel processors.
The Terk/Qwerk stuff is nice - I met some of the developers at AAAI last month, and like their approach to a general robotics controller.